Petrol and diesel rates have witnessed a hike again today, 5 July across all four metro cities across the country.
According to the Indian Oil Corporation (IOC), petrol prices have inched towards the Rs 100-mark in New Delhi as the charges were hiked by 35 paise from Rs 99.51 per litre to Rs 99.86 per litre while diesel rates remained unchanged at Rs 89.36 per litre.
In Mumbai, petrol prices have been hiked by 24 paise from Rs 105.58 per litre to Rs 105.92 per litre. Prices in Chennai for one litre petrol is Rs 100.75 and diesel for the same quantity costs Rs 93.91. In Kolkata, the price of petrol per litre is Rs 99.84 and for diesel, it is Rs 92.27.
Since 1 July, today is the third day when fuel prices have increased while the rates were hiked 16 times in June, as per state-run oil refiner. Fuel prices across the country have been on a steep rise since May 2020 and petrol rates have jumped 35 times since then. Diesel rates have also increased at least 34 times in the last two months.
So far, petrol has crossed the Rs 100 mark per litre in 14 states and Union Territories, including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Kerala, Bihar, Punjab and Ladakh. On 4 July, Sikkim joined the list.
The state-run oil marketing companies, including Indian Oil, Bharat Petroleum and Hindustan Petroleum, decide the price of domestic fuel with that of the global crude oil charges.
Fuel rates vary across every state in the country due to import charges, port duty, freight charges, excise duty and the international price of crude oil. Any changes in fuel rates come into effect from 6 am every day.