Petrol and diesel price today: After touching new record highs on Wednesday, fuel rates were left unchanged on Thursday by oil marketing companies (OMCs).
Petrol and diesel prices were hiked by 25 and 13 paise on June 16. A litre of petrol in Delhi costs Rs 96.66 per litre, while diesel price stands at Rs 87.41 a litre.
In Mumbai, petrol presently costs Rs 102.82 per litre, whereas diesel is retailing at Rs 94.84 a litre, as per data available on the Indian Oil Corporation's website.
Fuel prices have been increased 25 times since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
So far in June, petrol and diesel rates have been hiked nine times. Since May 4, petrol price has crossed Rs 100-per-litre mark in seven states and UTs (Union Territories) - Rajasthan, Maharashtra, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, and Ladakh.
Bhopal became the first state capital to have touched the three-figure mark last month, followed by Jaipur and Mumbai.
Hyderabad on June 15 became the second metro city in the country to see petrol price cross Rs 100 per litre mark after fuel prices were raised yet again. Bengaluru is now on the verge of touching the psychological mark with petrol currently retailing in the state capital of Karnataka at Rs 99.89.
Sri Ganganagar district of Rajasthan, near the India-Pakistan border, was the first place in the country to see petrol hitting the Rs 100 a litre mark in mid-February and on June 12 it also earned the distinction of diesel crossing that psychological mark. Petrol in the city is sold at Rs 107.53 a litre - the highest rate in the country, and diesel comes for Rs 100.37.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.
Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Oil companies 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.
Rising petrol, diesel prices: Parliamentary panel meeting today
A parliamentary panel is holding a meeting on Thursday to discuss rising fuel prices. As per Lok Sabha's website, the meeting of the petroleum and natural gas standing committee was scheduled to begin at 11 am.
The panel, chaired by BJP leader Ramesh Bidhuri, will take oral evidence of representatives of the petroleum ministry, and OMCs on the subject 'Pricing, Marketing and Supply of Petroleum Products including Natural Gas'.
Crude oil price
Crude oil prices eased on Thursday morning after rising for five consecutive days. Brent crude traded at $73.65 per barrel after reaching its highest since April 2019 in the previous session. US crude oil futures were down at $71.46 a barrel, Reuters reported.
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