Diesel price hiked by ₹7 in 12 days, petrol by ₹6.5
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In a span of just 12 days, the price of diesel has increased by ₹7.04 a litre while that of petrol is up by ₹6.55 a litre. Petrol price went up by 53 paise in Delhi today and diesel price was hiked by a bigger margin of 64 paise.
New Delhi: Petrol ₹77.81 Diesel ₹76.43
Gurgaon: Petrol ₹76.24. Diesel ₹69.08
Mumbai: Petrol ₹84.66. Diesel ₹74.93
Chennai: Petrol ₹81.32. Diesel ₹74.23
Hyderabad: Petrol ₹80.77. Diesel ₹74.70
Bengaluru: Petrol ₹80.33. Diesel ₹72.68
After 12 days of non-stop hikes, the price of petrol is now at a 19-month high in India. As diesel prices are at a record high, the All India Motor Transport Congress (AIMTC) said the unbridled hike in fuel prices coupled with extortion at border check-posts in states has hit truckers hard and if the government fails to intervene, disruption of transport services cannot be ruled out.
The current spike in fuel rates comes at a time when international crude oil prices have moderated to around $40 a barrel and the demand for fuel is gradually inching back to pre-Covid levels.
After declining more than 8% last week, Brent crude futures fell 1.5% to $40.10 a barrel in the morning today. While prices dipped, they are likely to remain in the $35 to $40 band they have been trading in so far in June, with the Organization of the Petroleum Exporting Countries and its allies, a grouping called OPEC+, mostly sticking to promised supply cuts, U.S. shale producers holding back output, and fuel demand gradually improving, analysts said.
