After a two-day pause, the prices of petrol and diesel were hiked again on Friday, June 4. The increase has taken the rates to new highs across the country, after they were hiked for the 18th time since May 4. According to Indian Oil Corporation data, price of petrol increased by 27 paise per litre, while diesel witnessed a hike of 28 paise per litre in India.
Currently, retail price of petrol in the national capital was hiked to Rs 94.76 per litre from Rs 94.49, while diesel rate was increased to Rs 85.66 a litre from Rs 85.38. In Mumbai, petrol retailed at 100.72 per litre, which is the highest across metro cities, while the cost of diesel was at Rs 92.99 paise, 30 paise more than yesterday’s price of Rs 92.69 a litre. Similarly, in Kolkata, retail pump price of petrol was increased by 26 paise to Rs 94.76 a litre, from Rs 94.50 on Thursday. Diesel costs Rs 88.51 a litre, 28 paise more than Thursday’s price. In Chennai, petrol hit an all-time high of Rs 96.23 per litre, while diesel is retailed at Rs 90.38 per litre.
Today’s hike marks the 18th instance in prices of both key fuels since May 4, as state-run oil marketing companies (OMCs) firms ended their 18-day pause in rate revision following legislative assembly elections in several states. In these past hikes, the price of petrol shot up by Rs 4.36 per litre and diesel by Rs 4.93 per litre in Delhi.
The report further cited that the recent increases in the last one month, petrol prices have already crossed theRs 100-mark in several states – Rajasthan, Madhya Pradesh and Maharashtra. While, Bhopal became the first state capital to have petrol register the century mark followed by Jaipur and Mumbai. Currently, Sri Ganganagar district in Rajasthan has the costliest petrol and diesel in the country at Rs 105.52 per litre and Rs 98.32 a litre respectively.
Meanwhile, on Friday in the global markets, Brent was trading at USD 71.53 per barrel, while the West Texas Intermediate (WTI) was trading at USD 68.98 per barrel.