petrol And diesel prices Saturday has not changed. This marks a two-week period since the change in fuel rates. The last change in petrol prices was on 17 July 2021. The last change in diesel prices was seen about 16 days back on July 15. Although prices have remained stable for so long, they remain at all-time highs. Since the last increase, price of petrol In major metro cities, it rose by 26 to 34 paise. Diesel saw an increase of 15 paise to 36 paise in the same city.
The price of petrol in Mumbai on July 31 was Rs 107.83 per liter. The country’s capital maintained a price point of Rs 101.8 per liter in the last two weeks. Both the cities saw an increase of 26 paise and 30 paise over the previous hike and remained stable with the same. In Kolkata city, drivers are paying Rs 102.80 per liter of petrol. This is 34 paise more than what was paid before July 17. Coming to the south of India, Chennai entered the triple-digit club sometime back and stayed there with a fuel pump price of Rs 102.49 per litre. Citizens of Chennai are paying 26 paise more than two weeks ago. Motorists in Bengaluru continue their fight against skyrocketing prices. On July 31, Metro had kept the price of petrol at Rs 105.25 per liter – 31 paise more than its previous rate.
Diesel price in India also has not seen any change since last 16 days. On July 31, the price of diesel in Mumbai was Rs 97.45 per liter. The fuel price in Delhi was Rs 89.87 per litre. The citizens of Kolkata were paying a hefty amount of Rs 93.02 per liter for diesel. In Chennai and Bangalore, motorists paid Rs 94.39 per liter and Rs 95.26 per liter respectively.
The fuel gets its hefty retail price tag from the huge amount of tax levied against it by the government. By far the biggest contributor to price inflation on the part of the consumer is the Value Added Tax (VAT). Other important duties include fuel excise duty, import duty, duty levied by state-run oil companies for storage, transportation, etc. There are also international factors to consider for final retail price. Things like crude oil prices in the international market, demand and supply of crude oil, and dollar-to-rupee exchange play a part in this.
Oil prices rose further in the international market on Friday as the global benchmark Brent crude posted a fourth monthly gain, as per a Reuters report. The report said that demand for oil is rapidly increasing in supply, while vaccines are expected to provide some relief in the next wave of Covid-19. Having said that, Brent crude futures for September delivery climbed 28 cents, or 0.4 percent, to bring the final price to $76.33 a barrel. US West Texas Intermediate (WTI) crude futures rose 33 cents, or 0.5 per cent, to put the final price of crude at $73.95 a barrel.
This week both the benchmarks saw a gain of more than 2 per cent. Brent rose 1.6 per cent in July, the fourth monthly increase for the benchmark. On the other hand, WTI was unchanged for the month, according to Reuters.
Check the prices of petrol and diesel for 31st July in the table below:
| city | Petrol (Rs.) | Diesel (Rs.) |
| Mumbai | Rs 107.83 | Rs 97.45 |
| Delhi | Rs.101.84 | Rs 89.87 |
| Kolkata | Rs 102.80 | Rs 93.02 |
| Chennai | Rs 102.49 | Rs 94.39 |
| Bangalore | Rs 105.25 | Rs 95.26 |
| Jaipur | Rupee. 108.71 | Rs 99.02 |
| Bhopal | Rs 110.20 | Rs 98.67 |
| Hyderabad | Rs 105.83 | Rs 97.96 |
| Pune | Rs 107.39 | Rs 95.54 |
| Gurgaon | Rs 99.46 | Rs 90.47 |
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