Petrol and diesel prices remain stable

New Delhi, Jun 15 (Agency) As the fuel prices were not revised on Tuesday, the rates were left unchanged of petrol and diesel prices, which were skyrocketed in the past few days. The prices of petrol and diesel were revised by 28 to 29 paise and diesel by 30 to 31 paise at a new record level across the country on Monday. According to Indian Oil Corporation, petrol and diesel prices in the national capital remained unchanged at Rs 96.41 and diesel at Rs 87.28 per liter.

The current sequence of price hikes started on May 4. During May in Delhi, petrol became costlier by Rs 3.83 and diesel by Rs 4.42. So far in June, the price of petrol has increased by Rs 2.18 and that of diesel by Rs 2.13. There was no change in the prices of both the fuels in other cities as well. Petrol in Mumbai was priced at Rs 102.58 and diesel at Rs 94.70 per litre. In Chennai, a liter of petrol was sold for Rs 97.69 and a liter of diesel for Rs 91.92. In Kolkata, the price of petrol remained stable at Rs 96.34 and that of diesel at Rs 90.12 per litre.

The difference in prices in states occurs on account of local taxes like VAT or freight charges. Notably, OMCs revise petrol and diesel prices daily and the new rates are released at 0600 hrs daily. Petrol and diesel prices are revised daily based on the average price of benchmark fuel in the global market in the preceding 15-days and foreign exchange rates.