Updated: June 4, 2021 1:25:00 pm
Petrol and diesel price today: After being steady for two days, prices of petrol and diesel were hiked again on Friday, June 4, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 27 paise while that of diesel too inched up 28 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 94.76 a litre while diesel is selling at Rs 85.66. In the financial capital Mumbai, petrol price now stands at Rs 100.98 while diesel costs Rs 92.99, data available on Indian Oil Corporation’s website 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 twice so far in June. During this period, petrol price has increased by Rs 4.36 per litre and diesel has climbed by Rs 4.93 in New Delhi.
Following the recent hikes in the past one month, the price of petrol has already crossed the Rs 100-per-litre mark in all districts of Rajasthan, Madhya Pradesh and Maharashtra- the states which levy the highest value-added tax (VAT) in the country. Bhopal became the first state capital to have petrol hit the three-figure mark followed by Jaipur and Mumbai during May.
Today, petrol crossed the Rs 100-mark in Leh, in almost all districts of Andhra Pradesh and parts of Telangana, according to a report by news agency PTI. Petrol is sold at over Rs 100 per litre in almost all districts of Andhra Pradesh, except Vizag where it costs 99.75 a litre. Diesel in Vizag is priced at Rs 94.08 per litre.
In Telangana, petrol prices crossed the psychological level in Adilabad (Rs 100.57) and Nizamabad (Rs 100.17). Petrol costs Rs 100.43 a litre in Leh, the report said.
Petrol rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 105.80 a litre and diesel for Rs 98.63 per litre, the Indian Oil data showed. Madhya Pradesh’s Anuppur district, petrol today priced at Rs 105.46 a litre and diesel at Rs 96.58.
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.
Earlier this week, members of the Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, agreed to continue relaxing curbs on oil production, signalling their confidence in improving oil demand and a drop in the global supply glut.
In the international market, crude oil prices recouped early losses and steadied on Friday as concerns about the patchy roll-out of COVID-19 vaccinations around the globe tempered optimism over recovering fuel demand, news agency Reuters reported.
Brent crude was down 1 cent at $71.30 a barrel by 0627 GMT, after falling 4 cents on Thursday following a gain to the highest since May 2019. The contract is on track for a gain of over 2.4 per cent this week. US oil was up by 1 cent at $68.82, having dropped 2 cents in the previous session, while heading for a gain of nearly 4 per cent this week, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Friday, June 4, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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