Petrol price in Bengaluru has crossed the Rs 100-mark as per litre rate rose to Rs 100.17 from Rs 99.89 on Thursday night. Meanwhile, the diesel price rose to Rs 92.97 per litre from Rs 92.66. A report in The Hindu quoted A Balaji Rao, President of Bangalore Petroleum Dealers’ Association, saying that the new rates will be effective from Friday, June 18. Since January 2021, the petrol prices in Bengaluru have gone up by nearly Rs 14. The petrol price in the city at the beginning of the year was Rs 86.47.
Petrol prices have reached close to hitting Rs 100 across India while some cities and towns in the following states — Maharashtra, Madhya Pradesh, Rajasthan, Telangana and Andhra Pradesh — have already breached the Rs 100-per-litre mark. These hiked fuel prices have come amidst inflation. On Friday, the oil marketing companies (OMCs) raised the price of the fuel between Rs 26 to 30 paise per litre across the country, however, the retail prices varied depending on the local taxes levied in different states. The prices were hiked by the companies after keeping it steady for a day.
The price of petrol in Delhi has increased by 27 paise while diesel’s cost has gone up by 28 paise taking the cost of the fuels to Rs 96.93 (petrol) and Rs 87.69 (diesel) respectively. The fuel price in Mumbai reached Rs 103.08 per litre on Friday. The city crossed Rs 100-mark for the first time ever on May 29. Diesel price also increased in Mumbai by 30 paise per litre to reach Rs 95.14 a litre, the highest among the metropolitan cities.
Officials of the OMCs have said that if the international oil prices continue to increase, the Rs 100-per-litre mark could be crossed in other places by the month-end.
The global crude prices have been rising due to high demand and depleting inventories of the world’s largest fuel consumer — the United States of America — the retail prices of fuel in India are expected to rise further in the coming days. Brent crude reached a multiyear high level of over $75 on Intercontinental Exchange a couple of days back before slight diversion to current price of $73 per barrel.
(With IANS inputs)