Petrol price rises by 35 paise per litre, diesel up 28 paise
New Delhi, June 29, 2021
The retail price of petrol rose sharply by 35 paise per litre and that of diesel by 28 paise per litre on Tuesday to touch new highs of Rs 98.81 and Rs 89.18 per litre, respectively, in Delhi.
In the city of Mumbai, where petrol price crossed Rs 100 per litre for the first time on May 29, the fuel price reached a new high of Rs 104.90 per litre on Tuesday. Diesel price also increased in the city to reach Rs 96.72 a litre, the highest among metros.
Across the country as well, petrol and diesel prices increased on Tuesday but the retail prices varied depending on the level of local taxes in different states.
Petrol prices in three other metros apart from Mumbai have also reached closer to Rs 100 per litre and oil marketing companies (OMC) officials said that if international oil prices continue to firm up, this mark could also be breached in other places in a couple of days.
Petrol price in Chennai is now Rs 99.80 a litre, just a single increase away from hitting the century mark.
With Tuesday's price hike, fuel prices have now increased on 32 days and remained unchanged on 28 days since May 1. The 32 increases have taken up petrol prices by Rs 8.42 per litre in Delhi. Similarly, diesel has increased by Rs 8.45 per litre in the national capital.
With global crude prices also rising on a pick-up in demand and depleting inventories of the world's largest fuel guzzler - the US, retail prices of fuel in India are expected to firm up further in the coming days. The benchmark Brent crude reached a multi-year high level of over $76 on ICE or the Intercontinental Exchange earlier. It has softened a bit to stay over $74 a barrel now.