Petrol touches record high on July 15, nears Rs 110/litre in Bhopal

Petrol and diesel prices: Petrol price in Delhi stands at Rs 101.54 per litre while diesel is available for Rs 89.87. In Mumbai, petrol is retailing at Rs 107.54, while diesel costs Rs 97.45. In Bhopal, petrol neared the Rs 110-mark and is currently retailing at Rs 109.89. Read below to find out fuel prices in your city.

Petrol and diesel price today: After remaining steady for two days, petrol and diesel prices were hiked on Thursday, July 15, 2021, with petrol touching a fresh record high across the country. In the national capital, the petrol price rose 35 paise while diesel inched up 15 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 101.54 a litre while diesel is selling at Rs 89.87. In the financial capital Mumbai, petrol price now stands at Rs 107.54 while diesel costs Rs 97.45, data available on Indian Oil Corporation’s website showed.

This marks the eighth increase in petrol prices this month, while diesel, on the other hand, has been hiked five times and declined once. In June, both petrol and diesel prices were hiked 16 times which followed the 16 hikes during May. Prices have been on the rise since May 4 after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in five key states. During this period, petrol price has increased by Rs 11.14 per litre and diesel has climbed by Rs 9.14 in New Delhi.

Fuel prices were last revised on Monday when the petrol rate was increased by 28 paise to Rs 101.19 per litre, while diesel slipped 16 paise to Rs 89.72 a litre in the national capital.

Following the hikes since May 4, the price of petrol has crossed the Rs 100-per-litre mark in at least 17 states and union territories including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Ladakh, Karnataka, Jammu and Kashmir (J&K), Odisha, Tamil Nadu, Bihar, Kerala, Punjab, Sikkim, Puducherry, Delhi and West Bengal.

Bhopal was the first state capital to have petrol hit the three-figure mark in May, followed by Jaipur and Mumbai. In June, Hyderabad and Bengaluru had also joined them followed by Patna and Thiruvananthapuram. Earlier this month, Chennai along with Delhi and Kolkata became the latest capital cities to hit the psychological landmark.

Petrol and diesel rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 112.90 a litre. Diesel here touched the three-figure mark in June and currently is retailing at Rs 103.15 per litre, the Indian Oil data showed. In Madhya Pradesh’s Anuppur district, petrol today is priced at Rs 112.47 a litre and diesel at Rs 101.05.

Auto fuel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.

In the international market, crude oil prices fell nearly 1 per cent on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as US fuel stocks rose, raising concerns about demand in the world’s largest consumer, news agency Reuters reported earlier in the day.

Brent crude futures for September dropped 59 cents (0.8 per cent) to $74.17 a barrel by 0409 GMT while US West Texas Intermediate (WTI) crude for August was at $72.51 a barrel, down 62 cents (0.9 per cent), the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, July 15, 2021:

 

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