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Petrol, diesel prices hiked again today; up to Rs 7.04 per litre rise in 12 days

Crude oil prices fell more than 1% on Thursday as a spike in new coronavirus cases in China and United States renewed fears that people would stay home and stall recovery in fuel demand even as lockdowns ease

twitter-logoBusinessToday.In New Delhi Last Updated: June 18, 2020 | 12:27 IST
Petrol, diesel prices hiked again today; up to Rs 7.04 per litre rise in 12 days
Petrol and diesel saw 53 paise and 64 paise rise in Delhi

Petrol and diesel prices were hiked for 12th consecutive day today, taking the total increase in fuel prices to Rs 6.55 per litre and Rs 7.04 per litre, respectively. On Thursday, petrol and diesel saw 53 paise and 64 paise rise in Delhi, costing at Rs 77.81/litre and Rs 76.43/litre, respectively. In Mumbai, petrol prices rose 51 paise to Rs 84.66, while diesel prices increased by 61 paise to Rs 74.93. In Kolkata, petrol now costs at Rs 79.59, up 48 paise, and Rs 71.96, up 58 paise. In Chennai, petrol and diesel prices rose by 46 paise and 54 paise to Rs 81.32 and Rs 74.23 per litre, respectively.

Petrol and diesel prices in four metro cities

  • New Delhi: Rs 77.81 for petrol, Rs 76.43 for diesel
  • Kolkata: Rs 79.59 for petrol, Rs 71.96 for diesel
  • Mumbai: Rs 84.66 for petrol, Rs 74.93 for diesel
  • Chennai: Rs 81.32 for petrol, Rs 74.23 for diesel

Notably, Brent crude oil prices also saw a significant increase in prices in the last 12 days. As per the official data, Brent crude cost $38.32 per barrel on June 6, while its price rose to $40.26 a barrel on June 17.

As part of the build-up, the base price for petrol is Rs 22.11 per litre in Delhi. After adding freight charges of 0.33, the price charged from dealers stands at Rs 22.44 per litre. The government charges Rs 32.98 per litre excise duty on petrol. Add to that the average dealer commission and VAT, the final petrol price in Delhi comes out to be Rs 77.81 per litre.

Similarly, the base price for diesel is Rs 22.93. After adding freight (30 paise), excise duty, dealer commission and VAT, the final retail price comes out to be Rs 76.43 per litre. Notably, petrol and diesel prices remained unchanged at Rs 71.26 and Rs 69.39, respectively, during the lockdown period between May 5 to June 6.

Meanwhile, crude oil prices fell more than 1% in early trade on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that people would stay home and stall recovery in fuel demand even as lockdowns ease, reports Reuters. Brent crude LCOc1 futures fell 1.1%, or 45 cents, to $40.26 a barrel. The benchmark contract declined 25 cents on Wednesday.

Also read: Fuel on fire! Petrol, diesel prices increased for 11th day straight; rates up by Rs 6.4 per litre

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