Petrol prices are close to the Rs 100 mark
In the national capital, as well as other regions of the country where it hasn’t yet crossed the benchmark, petrol prices crept closer to Rs 100. With the recent rise on Tuesday, petrol now costs Rs 97.50 per litre, while diesel costs Rs 88.23 per litre. Petrol currently costs Rs 103.63 per litre in Mumbai, while diesel costs Rs 95.72 per litre, the most among metros.
On May 29, petrol prices in Mumbai surpassed the Rs 100 barrier. Depending on the amount of municipal taxation, the cost of gasoline and diesel varies per state.
Apart from Mumbai, the prices in three other metros have approached the Rs 100 per litre level, with OMC officials predicting that if international oil prices continue to rise, it might break this record in other cities by the end of the month.
Since May 1, gasoline prices have climbed up to 28 days and stayed steady on 25 days, according to the latest data. In Delhi, the cost of fuel has risen by Rs 7.11 per litre because of the hike. Similarly, the national capital’s diesel price had an increase of Rs 7.50 per litre.
The government expects retail prices in India to be down further in the coming days, as global crude prices rise due to increased demand and dwindling supplies in the world’s top fuel guzzler, the United States. On the ICE or Intercontinental Exchange, the benchmark Brent crude hit a multi-year high of almost $75.