Petrol prices hiked again: Check rates in your city

Petrol prices hiked again: Check rates in your city

As per IOCL's website, the price of petrol was at Rs 75.10 in Delhi, Rs 77.79 in Kolkata, Rs 82.94 in Mumbai, Rs 77.93 in Chennai and Rs 76.31 in Bengaluru.

Petrol and diesel prices in the national capital touched Rs 74.95 and Rs 66.36 on Tuesday, just a day after state-run oil companies resumed the dynamic pricing mechanism on Monday, reported IANS.

Diesel price in Mumbai: Shockingly, the diesel price in Mumbai was hiked most among metro cities, as the price has reached to Rs 70.88 per litre-mark, the highest among metro cities.

After remaining stagnant for 19 days, fuel prices have risen across the country for the third day in a row. Diesel prices were increased by 21 paise in Delhi and Kolkata and by 22 paise and 23 paise in Mumbai and Chennai respectively.

Oil prices for June delivery was trading lower by a similar margin at Rs 4,846 per barrel with a business volume of 266 lots.

Oil marketing companies seem to have woken up from a deep slumber as soon as Karnataka polls are over as they have once again started pushing up fuel prices.

The Congress leader P Chidambaram tweeted on Monday that the recent "interval" has coincided with Karnataka elections. Adding to the woes, the government has also denied reducing excise duty prices, thus taking a bigger hit on the public.

There is, however, some good news for you as after rising consistently crude oil prices fell on Wednesday on reports that there would be ample supply despite a cut in oil production by OPEC countries and USA sanctions against Iran, which is a major crude oil export country. Traders, businessmen, transporters and others were also seen showing dissatisfaction over the current levels of fuel prices.

M K Surana, chairman at Hindustan Petroleum (HPCL) said in an interview that if the global fuel prices continue to surge, OMCs will have to pass on the increase to consumers. More taxes on petrol and diesel, more burden on the consumer.

According to the price build-up data for fuels provided by International Olympic Committee, 42 per cent of the total diesel price charged to consumers comprises taxes while the tax component stands at 52 per cent for petrol.

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