Petrol price touches all-time on July 12, diesel slips; check out revised rates in your city
The decline in diesel prices has come after more than two months. On the other hand, after remaining unchanged for a day, petrol prices touched a record high across the country on Monday following the hike.
FollowAfter remaining unchanged for a day, petrol prices were hiked on Monday, July 12, 2021, touching a record high across the country, while diesel rates dipped marginally. In the national capital, the petrol price rose 28 paise while that of diesel slipped 16 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 101.19 a litre while diesel is selling at Rs 89.72. In the financial capital Mumbai, petrol price now stands at Rs 107.20 while diesel costs Rs 97.29, data available on Indian Oil Corporation’s website showed.
In Bhopal, the petrol price rose to Rs 109.53 a litre. The diesel price in the city on Monday is Rs 98.50 per litre.
In Kolkata, diesel rates dropped to Rs 92.81 per litre, while petrol retailed at Rs 101.35 per litre.
Chennai also saw an increase in petrol prices by 25 paise, but the diesel price decreased by 15 paise. The latest hike took the prices of a litre of petrol and diesel each to Rs 101.96 and Rs 94.28 in Tamil Nadu’s capital.
In Bengaluru, petrol price stands at Rs 104.58 per litre, while diesel retailed at Rs 95.09 per litre.
Petrol and diesel rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 112.53 a litre. Diesel here touched the three-figure mark in June and currently is retailing at Rs 102.98 per litre, the Indian Oil data showed. In Madhya Pradesh’s Anuppur district, petrol today is priced at Rs 112.11 a litre and diesel at Rs 100.89.
Petrol and diesel prices differ from state to state depending on value-added tax (VAT) and freight charges. Petrol and diesel prices in India also depend on various factors like valuation of INR against USD, consumption ratio of refineries, demand for fuel and others.
The fuel prices are revised by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on international prices in the preceding 15 days and foreign stock exchange.
India's fuel demand rebounded in June after slumping to a nine-month low in the previous month as restrictions to curb the spread of the pandemic were eased, helping economic activity and mobility to pick up.
This marks the seventh increase in petrol prices this month, while diesel on the other hand has declined for the first time after being hiked four times earlier in July. In June, both petrol and diesel prices were hiked 16 times which followed the 16 hikes during May.
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