Petrol prices saw a rise in prices again by 31 to 39 paise again on July 5, taking it to a historic high. However, the diesel rates remain unchanged. In the last two months, petrol prices increased by 34 times and diesel prices saw a surge in prices 33 times.
Delhi and Kolkata were the only cities where petrol and diesel prices remained below Rs 100. In the national capital, petrol price stands at Rs 99.90 a litre and diesel is priced at Rs 89.40 per litre.
Meanwhile, in Kolkata petrol price stood at Rs 99.88 per litre and diesel price remained at Rs 92.31 per litre.
Petrol prices remained above Rs 100 per litre in other metro cities of Mumbai, Chennai, Bengaluru, Hyderabad and Pune.
In Mumbai, petrol prices reached an all-time high of Rs 105. 95 per litre. Diesel price remained unchanged and retailed at Rs 96.95 per litre in the financial capital.
The price of petrol in Chennai stood at Rs 100.78 per litre, while that of diesel remained the same at Rs 93.94 per litre in Tamil Nadu’s capital.
Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges.
With this, petrol has crossed the Rs 100-a-litre mark in Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Kerala, Bihar, Punjab and Ladakh. Sikkim joined that list on July 4.
Oil companies 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.
International oil prices have climbed in recent weeks on optimism of a quick recovery in fuel demand. Brent crude touched the USD 75 per barrel mark, the first time since April 2019.
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