Updated: June 22, 2021 10:15:16 am
Petrol and diesel price today: Prices of petrol and diesel were hiked on Tuesday, June 22, 2021, after a gap of one day, touching fresh record highs across the country. In the national capital, the petrol price rose 28 paise while that of diesel inched up 26 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 97.50 a litre while diesel is selling at Rs 88.23. In the financial capital Mumbai, petrol price now stands at Rs 103.63 while diesel costs Rs 95.72, data available on Indian Oil Corporation’s website showed.
This marks the 12th price rise in the auto fuel prices so far in the month of June that follows 16 hikes in May. Prices have been on the rise since the past month (May 4) after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in key states.
Following the ongoing hikes since May 4, the price of petrol has crossed the Rs 100-per-litre mark in eight states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Ladakh, Karnataka and Jammu and Kashmir.
Last month, Bhopal became the first state capital to have petrol hit the three-figure mark followed by Jaipur and Mumbai and last week, Hyderabad and Bengaluru also joined this list. Now, Patna and Thiruvananthapuram are inching towards this psychological landmark with petrol retailing at Rs 99.55 and Rs 99.48 respectively.
Petrol and diesel rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 108.67 a litre. Diesel here touched the three-figure mark earlier this month and currently is retailing at Rs 101.40 per litre, the Indian Oil data showed. In Madhya Pradesh’s Anuppur district, petrol today is priced at Rs 108.30 a litre and diesel at Rs 99.31.
In India, the fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
In the international market, crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the US and European markets and fading expectations for an early return of Iranian crude, news agency Reuters reported earlier in the day.
Brent crude futures for August eased 10 cents (0.1 per cent) to $74.80 a barrel by 0110 GMT, while US West Texas Intermediate (WTI) crude for July was at $73.44 a barrel, down 22 cents (0.3 per cent). WTI for August fell 15 cents(0.2 per cent) to 72.97 a barrel. Brent gained 1.9 per cent and WTI jumped 2.8 per cent on Monday, the report said.
Both benchmarks have risen for the past four weeks on optimism over the pace of global COVID-19 vaccinations and expected pick-up in summer travel. The rebound has pushed up spot premiums for crude in Asia and Europe to multi-month highs, it said.
Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, June 22, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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