Petrol and diesel prices have touched new highs across the metros on June 11, data from the country’s largest fuel retailer Indian Oil showed.
The petrol price was raised by 28-29 paise and diesel by 28-30 paise per litre across cities.
Accordingly, the price of petrol and diesel increased to Rs 95.85 and Rs 86.75 per litre in the national capital. In Mumbai, the petrol price changed to Rs 102.04 per litre on June 11. The cost of diesel advanced to Rs 94.15 a litre.
In last 11 days, petrol and diesel prices have been hiked by up to Rs 1.70 per litre.
The fuel prices vary from state to state in the country due to the value-added tax or VAT.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.
In international market, oil prices slid on June 10 as inventory data in the United States, the world’s top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country’s peak season for motoring.
Brent crude futures fell 23 cents, or 0.3 per cent, to $72.29 a barrel at 0145 GMT, the highest climb since May 2019, according to the media reports.