New Delhi, July 5: The petrol prices in India continued their upward trend even on Monday with petrol breaching the Rs 100 per litre mark in Mumbai and Chennai. The oil companies have only increased the pump price of petrol on July 5 while keeping diesel rates unchanged to limit the cascading effect of high transport fuel on prices of various other commodities. According to the latest changes in fuel prices by the Indian Oil Corporation (IOC), the price of petrol inhas been hiked to Rs 99.86 per litre while the diesel price has been unchanged and stands at Rs 89.36 per litre respectively.
In Mumbai, petrol now costs Rs 105.92 per litre while diesel is priced at Rs 96.91 per litre. In Chennai, the price of petrol on July 4 is Rs 100.75 while diesel is being sold at Rs 93.91 per litre. In Kolkata, petrol and diesel are priced Rs 99.84 and Rs 92.27 respectively.
Officials in oil companies attribute the consistent rise in fuel prices to the development in global oil markets where both product and crude prices have been firming up for the past couple of months on demand rise amidst slowing of a pandemic. World May See Peak of Petrol, Diesel Demand by 2035 but Not in India, Says Oil Ministry Official.
Check Petrol and Diesel Prices in Metro Cities on July 5, 2021:
|Delhi||Rs 99.86/ litre||Rs 89.36/ litre|
|Mumbai||Rs 105.92/ litre||Rs 96.91/ litre|
|Chennai||Rs 100.75/ litre||Rs 93.91/ litre|
|Kolkata||Rs 99.84/ litre||Rs 92.27/ litre|
The global cues have been pushing fuel prices to increase again across the country. This has added more misery for the common man already grappling with rising food prices amid shrinking income. The price of petrol has reached very close to hitting the century mark all across the country. The fuel rate has already crossed the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana and Andhra Pradesh.
(The above story first appeared on LatestLY on Jul 05, 2021 08:29 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).