petrol and diesel prices Will remain unchanged on Friday after yesterday’s hike. The nation saw a massive increase in fuel prices as rates hit fresh highs across the country. Prices for petrol have increased by more than Rs 10 per liter in the last two months. With the price hike on July 15, petrol rates There was an increase of 31 to 39 paise in major metros and Bangalore. At the same time, diesel prices saw an increase of 15 to 21 paise.
In Mumbai, as it stands from Thursday, the rate of petrol is Rs 107.54 per litre, which was an increase of 34 paise from its previous price point. The current price of petrol in Delhi is Rs 101.54 per liter – an increase of 35 paise. Kolkata and Chennai lag behind in terms of pump rates for fuel as they each charge Rs 101.74 per liter and Rs 102.23 per liter respectively. This marks an increase of 39 paise for motorists of Kolkata and 31 paise for citizens of Chennai. The city of Bengaluru had seen a hike of 36 paise on Thursday, taking the price of petrol to Rs 104.94 per liter for the start-up hub.
Diesel prices also saw a jump as more and more cities closed at Rs 100 per litre. For Mumbai, the diesel rate is Rs 97.45 per liter from Thursday, which is a 16 paise hike in rates. The price of diesel in the country’s capital Delhi is Rs 89.87 per liter. A similar increase was witnessed in Chennai which recently reduced the rate of diesel to Rs 94.39 per litre. Both Delhi and Chennai saw an increase of 15 paise for fuel. Kolkata saw a huge hike of 21 paise for fuel pumps across the city. Due to this, the latest price of diesel has come down to Rs 93.02 per liter. Bangalore is also heading towards the triple-digit mark with a diesel rate of Rs 95.26 per litre, which is an increase of 17 paise.
A major part of fuel rates can be attributed to state level and central government taxation. The central government levies the tax in the form of excise duty, state government taxation as well as dealer’s commission and value added tax (VAT) and more than half the cost of fuel can be deducted only for tax.
According to a Reuters report, oil prices fell again by a third on July 16 due to supply concerns in the market. It also noted that OPEC is likely to add more barrels amid hopes that more demand is on the horizon, as countries look to recover from the pandemic.
Brent crude was down 20 cents, down 0.3 per cent. The report noted that this puts the price at $73.27 per barrel by 0018 GMT. After two days of heavy fall, it is expected to fall by 3 per cent this week as well.
On the other side of the coin, US crude fell 12 cents, or 0.2 percent, to $71.53 a barrel, and is set for a fall of nearly 4 percent this week, according to Reuters.
Check the prices of petrol and diesel in the table below:
| City | Petrol (Rs.) | Diesel (Rs.) |
| Mumbai | Rs 107.54 | Rs 97.45 |
| Delhi | Rs 101.54 | Rs 89.87 |
| Kolkata | Rs 101.74 | Rs 93.02 |
| Chennai | Rs 102.23 | Rs 94.39 |
| Bangalore | Rs 104.94 | Rs 95.26 |
| Jaipur | Rupee. 108.40 | Rs 99.02 |
| Bhopal | Rs 109.53 | Rs 98.50 |
| Hyderabad | Rs 105.52 | Rs 97.96 |
| Pune | Rs 107.10 | Rs 95.54 |
| Gurgaon | Rs 99.17 | Rs 90.47 |
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