Petrol and diesel prices are increasing in India rapidly, with oil marketing companies raising fuel prices by up to 60 paise. This is 15th consecutive hike in petrol prices after 12-week pause during the lockdown. Between June 6 and June 21, petrol and diesel prices have increased by up to Rs 7.97 per litre and Rs 8.88 per litre, respectively.
In Delhi, petrol saw 35 paise hike, while there was 60 paise per litre increase in diesel prices. Similarly, Mumbai also reported 34 paise hike in petrol, while diesel was hiked by 58 paise. Kolkata also saw 33 paise hike in petrol and 54 paise hike in diesel. Chennai also reported 31 paise hike in petrol and 51 paise rise in diesel prices. Petrol and diesel rates have been increased all over India and vary from state to state depending on local taxes and VAT. The Central Government imposed a freeze in rates in Mid-March followed by a hike in excise duty on petrol and diesel to sustain additional finances.
Petrol, diesel prices in metro cities on June 21
- Delhi: Petrol: Rs 79.23 per litre, Diesel: Rs 78.27 per litre
- Mumbai: Petrol: Rs 86.04 per litre, Diesel: Rs 76.69 per litre
- Kolkata: Petrol: Rs 80.95 per litre, Diesel: Rs 73.61 per litre
- Chennai: Petrol: Rs 82.58 per litre, Diesel: Rs 75.80 per litre
- Base Price: Rs 22.11/litre
- Freight etc: Rs 0.33/litre
- Price Charged to Dealers: Rs 22.44/litre
- Excise Duty: Rs 32.98/litre
- Dealer Commission: Rs 3.60/litre
- VAT: Rs 17.71/litre
- Retail Selling Price in Delhi: Rs 79.23/litre
- Base Price: Rs 22.93/litre
- Freight etc: Rs 0.30/litre
- Price Charged to Dealers: Rs 23.23/litre
- Excise Duty: Rs 31.83/litre
- Dealer Commission: Rs 2.53/litre
- VAT: Rs 17.60/litre
- Retail Selling Price in Delhi: Rs 78.27/litre
Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after Opec producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, recovering, reported Reuters. Brent crude was up $1.00, or 2.4 per cent, at $42.51 by 1332 GMT after hitting $42.89, its highest since June 8. US West Texas Intermediate (WTI) crude climbed $1.32, or 3.4 per cent, to $40.16.