Gasoline and Diesel Prices Today: After hitting new record highs on Wednesday, fuel prices were left unchanged on Thursday by oil marketers (OMCs).
Gasoline and diesel prices were increased by 25 and 13 Paise respectively on June 16. A liter of gasoline in Delhi costs 96.66 rupees per liter, while the price of diesel is 87.41 rupees per liter.
In Mumbai, gasoline currently costs 102.82 rupees per liter, while diesel costs 94.84 rupees per liter, according to data on the Indian Oil Corporation website.
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Fuel prices have risen 25 times since May 4, when state oil companies ended an 18-day hiatus from tariff revision they witnessed during parliamentary elections in states like West Bengal.
So far in June, gasoline and diesel prices have been increased nine times. As of May 4th, gasoline prices in seven states and UTs (Union Territories) – Rajasthan, Maharashtra, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana and Ladakh – have passed the Rs 100 per liter mark.
Bhopal was the first state capital to break the three-digit mark last month, followed by Jaipur and Mumbai.
Hyderabad became the second metropolis in the country to see gasoline prices surpass Rs 100 per liter on June 15 after fuel prices hiked again. Bengaluru is now on the verge of touching the psychological mark as gasoline is currently being sold at Rs 99.89 in the state capital, Karnataka.
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The Sri Ganganagar district of Rajasthan, near the India-Pakistani border, was the first place in the country where gasoline hit the Rs 100 per liter mark in mid-February, and on June 12 it also received the award that diesel this psychological Mark has exceeded. Gasoline in the city sells for 107.53 rupees per liter – the highest price in the country, and diesel costs 100.37 rupees.
Fuel prices vary from state to state, depending on the incidence of local taxes such as sales tax and freight charges.
Rajasthan has the highest sales tax on gasoline and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Oil companies review gasoline and diesel prices on a daily basis based on the average price of the reference fuel in the international market over the last 15 days and exchange rates.
Also Read: India’s June 1st-15 Fuel Sales Raised As Lockdown Restrictions Ease
Rising gasoline, diesel prices: Parliament session today panel
A parliamentary body will hold a meeting on Thursday to discuss rising fuel prices. According to the Lok Sabha website, the meeting of the Standing Committee on Petroleum and Natural Gas was due to start at 11 a.m.
The panel, chaired by BJP Leader Ramesh Bidhuri, takes oral statements from officials from the Ministry of Petroleum and OMCs on the subject of pricing, marketing and supply of petroleum products, including natural gas.
Crude oil price
Crude oil prices fell Thursday morning after rising for five days in a row. Brent crude was trading at $ 73.65 a barrel after hitting its highest since April 2019 in the previous session. US crude oil futures fell to $ 71.46 a barrel, Reuters reported.