Fuel prices on Tuesday remained unchanged across the country for the tenth consecutive day. Petrol prices touched a record high on July 17 when its price rose by 30 paise for one litre in Delhi. Petrol prices have been hiked nine times this month, while diesel prices have observed a revision six times.
Petrol price in the national capital stands at Rs 101.84 per litre while the price of diesel stands at Rs 89.87 for one litre. In the month of May, fuel prices were revised by the Oil Market Companies (OMCs) 16 times. The trend was repeated in the month of June as well which observed another 16 fuel price revisions.
In the financial capital of the country, petrol currently costs Rs 107.83, while diesel is retailing at Rs 97.45. Among the metropolitan cities, the price of fuel remains highest in Mumbai.
In Chennai, petrol price stands at Rs 102.49 per litre while diesel is being sold for Rs 94.39 per litre. In the capital city of West Bengal one litre of petrol is being sold for Rs 102.08 while one litre of diesel is being retailed at Rs 93.02.
The OMCs like Shell, Bharat Petroleum Corporation Ltd (BPCL), Essar, Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL), resumed their price revisions ending an 18-day halt that coincided with the assembly elections in key states. Since the halt was lifted in May, petrol price has observed a climb by Rs 11.44 per litre and diesel has risen by Rs 9.14 in the national capital.
There are various factors that contribute to the differing fuel prices across the country. Much of it depends on local taxes like VAT, excise duty, and freight charges. Other factors include average price of benchmark fuel in the international market, foreign exchange rates.
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