OMCs raise fuel prices by between  26 and 31 paise per litre

OMCs raise fuel prices by between 26 and 31 paise per litre

New Delhi, June 14, 2021

Oil marketing companies (OMCs) raised the prices of petrol and diesel by between 26 and 31 paise per litre across the four metros.

With the rise, petrol has reached very close to hitting the century-mark all across the country extending the scope of historic high prices that had already made the fuel hit and cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.

Accordingly, the price of petrel increased by 29 paise per litre to Rs 96.41 per litre and diesel by 30 paise per litre to Rs 87.28 per litre in Delhi.

In Mumbai, where petrol prices crossed Rs 100 for the first time ever on May 29, the fuel price reached a new high of Rs 102.58 per litre on Monday. The price of diesel also increased in the city by 31 paise per litre to reach Rs 94.70 a litre, the highest among metros.

Across the country as well petrol and diesel prices increased on Monday but the retail prices varied depending on the level of local taxes in different states.

With Monday's price hike, fuel prices have now increased on 24 days and remained unchanged on 21 days since May 1. The 22 increases have taken up petrol prices by Rs 6.01 per litre in Delhi. Similarly, diesel has increased by Rs 6.55 per litre in the national capital.

With global crude prices also rising on a pick-up in demand and depleting inventories of world's largest fuel guzzler - the US, retail prices of fuel in India are expected to firm up further in coming days. The benchmark Brent crude is currently close to $ 74 on ICE or the Intercontinental Exchange.


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