Fuel prices across the country witnessed a slight increase on Tuesday. Petrol price in the national capital increased from Rs 97.22 per litre on Monday to Rs 97.50 per litre today. While the retail price for diesel witnessed a slight decrease from Rs 87.97 per litre on Monday to Rs 88.23 per litre on Tuesday.
Revision of fuel prices is done in line with benchmark international price and foreign exchange rates on a daily basis by Oil Marketing Companies (OMCs) like Shell, Bharat Petroleum Corporation Ltd (BPCL), Essar, Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL).
The metro city of the country where petrol and diesel prices are at an all time high is Mumbai. In another slight increase on Tuesday, petrol is retailing at Rs 103.63 per litre, while diesel is being sold at Rs 95.72 per litre. In the capital city of Tamil Nadu, Chennai, petrol prices on Tuesday reached Rs 98.65 per litre from Rs 98.40 per litre yesterday. While the price for diesel stood at Rs 92.83 per litre, a slight decrease from Monday when it retailed at Rs 92.58 for a litre. In the capital of West Bengal, Kolkata, the retail price of petrol for a litre on Tuesday is Rs 97.38,a slight increase from Rs 97.12 per litre on Monday. While the price for Diesel increased to Rs 91.08 per litre from Rs 90.82 per litre on Monday.
The difference of fuel prices in cities across the country occurs due to several factors like local taxes, transportation freight charges, VAT, Rupee-Dollar exchange rate and others. The international prices of crude oil increased with Brent Crude Oil trading at $75.20 per barrel, and WTI Crude trading at $73.64 per barrel on Tuesday.