Petrol, diesel prices increased again on Friday, rates at new high

Petrol and Diesel Price Today in India: A litre of petrol costs Rs 94.76 in Delhi as compared with Rs 94.49 a litre on Thursday. Diesel is retailing at Rs 85.66 a litre, 28 paise more than yesterday’s price.

New Delhi: Petrol and diesel prices on Friday (June 4) climbed to new highs across the country after they were increased for the 18th time Since May 4. Petrol price was hiked by 27 paise per litre and diesel by 28 paise across the country.

The pump price of petrol price in Delhi was hiked to Rs 94.76 per litre from Rs 94.49, while diesel rates were increased to Rs 85.66 a litre from Rs 85.38, as per data from the Indian Oil Corporation website. The hike on Friday is the 18th increase in prices since May 4, when state-run oil marketing companies (OMCs) firms ended an 18-day pause in rate revision they followed during assembly elections in several states. In 18 hikes, petrol price has risen by Rs 4.36 per litre and diesel by Rs 4.93 a litre in the national capital.

It is worth mentioning here that OMCs on Thursday kept auto fuels rates static across the country for the second consecutive day.

Citizens in Mumbai have to pay Rs 100.98 for a litre of petrol after a 26 paise rise over Thursday’s rate. A litre of diesel costs Rs 92.99 paise, 30 paise more than yesterday’s price of Rs 92.69 a litre. Similarly, in Kolkata, the pump price of petrol was hiked by 26 paise to Rs 94.76 a litre, from Rs 94.50 recorded 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 a litre, while diesel is priced at Rs 90.38 per litre.

Following the recent increases in the last one month, petrol prices have already breached the Rs 100-mark in several states such as Rajasthan, Madhya Pradesh and Maharashtra. Bhopal became the first state capital to have petrol register the century mark followed by Jaipur and Mumbai. Sri Ganganagar in Rajasthan has the highest level of petrol at Rs 105.80 a litre while diesel prices there as well is closing on the three-figure mark remaining at Rs 98.63 a litre.

READ(Petrol surpassed Rs.100/liter mark in Nagpur creates all-time high record)

Worth mentioning here is that as per dynamic pricing, state-run oil marketing companies (OMCs) revise the retail prices of petrol and diesel on a daily basis. Plus, auto fuel prices are dependent on Brent crude oil rates as India imports around 85 per cent of its fuel requirements.

On Friday, in the global oil market, Brent Crude oil futures were trading at $71.02 per barrel, down 29 cents, or 0.4 per cent, from their last close. West Texas Intermediate (WTI) crude futures declined by 29 cents, or 0.4 per cent, to $68.52 per barrel. It is worth noting that Brent crude oil has surged 36 per cent this year to more than $70 a barrel, and this has triggered a hike in retail transportation fuel prices.

Here’s what you pay for a litre of petrol and diesel in your city after the latest hike on June 4.