After a two-day hiatus, India’s largest fuel merchant, Indian Oil, raised petrol and diesel rates across the metros on Monday. According to Indian Oil, petrol prices in Delhi increased by 26 paise from 91.27 per liter to 91.53 per liter, while diesel prices increased by 33 paise from 81.73 per liter to 82.06 per liter. Petrol and diesel costs are currently at their peak in the country’s financial capital. Petrol was sold for 97.86 per liter in Mumbai, while diesel was sold for 89.17 per liter.
Meanwhile, Maharashtra has entered the ranks of states where petrol prices have surpassed the 100-per-liter mark, joining Rajasthan and Madhya Pradesh.
Though petrol prices in some parts of Rajasthan and Madhya Pradesh recently reached 100 rupees, Maharashtra’s Parbhani entered the league on Monday. Petrol in Parbhani costs 100.20 rupees per liter. The fuel costs 102.42 per liter in Rajasthan’s Sri Ganganagar district and 102.12 in Madhya Pradesh’s Anuppur.
This is the second time this year that certain areas’ values have surpassed 100 rupees per liter.
Petrol prices have risen by 1.14 per liter and diesel prices have risen by 1.33 per liter in the last week, more than canceling out the reductions that occurred between March 24 and April 15.
Since the government lifted excise duty to an all-time high in March last year, state-owned fuel retailers IOC, BPCL, and HPCL cut petrol prices by 67 paise a liter and diesel prices by 74 paise a liter between March 24 and April 15.
State-run oil marketing firms such as Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum use foreign exchange rate fluctuations to match domestic fuel prices with global crude oil prices. The recent gasoline price increases are in place starting at 6 a.m. every day.
Crude prices rose more than 1% on Monday, exposing the vulnerability of oil infrastructure after a massive cyberattack prompted the closure of vital fuel supply pipelines in the United States.
Brent oil was up 76 cents, or 1.1 percent, to $69.04 a barrel at 0039 GMT, after rising l.5% last week. West Texas Intermediate futures in the United States gained 70 cents, or 1.1 percent, to $65.60 a barrel.
