June 7, 2021 1:49:13 pm
Petrol and diesel price today: Petrol and diesel prices were hiked again for the second consecutive day on Monday, June 7, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 28 paise while that of diesel too inched up 27 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 95.31 a litre while diesel is selling at Rs 86.22. In the financial capital Mumbai, petrol price now stands at Rs 101.52 while diesel costs Rs 93.58, data available with Indian Oil Corporation showed.
Fuel 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. The prices were hiked 16 times in May and four times so far in June. During this period, petrol price has increased by Rs 4.91 per litre and diesel has climbed by Rs 5.49 in New Delhi.
Following the recent hikes since May 4, the price of petrol has crossed the Rs 100-per-litre mark in six states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.
Fuel prices in the country 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 global market, crude oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week’s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies, news agency Reuters reported earlier in the day.
Brent crude futures for August fell 66 cents (0.9 per cent) to $71.23 a barrel by 0645 GMT, after earlier hitting $72.27, their highest since May 2019. US West Texas Intermediate crude for July touched $70 for the first time since October 2018 but reversed course to be at $69.10 a barrel, down 52 cents (0.8 per cent), the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Monday, June 7, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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