Petrol, diesel prices today: Petrol and diesel prices have been left unchanged across the four metros on Wednesday, June 2. The prices have been increased for 17 times since May 4. In the national capital, petrol prices were constant at Rs 94.49 and diesel prices were steady at Rs 85.38 per litre, according to Indian Oil Corporation.
State-run oil refiners had hiked petrol and diesel prices on May 4, ending an 18-day hiatus in rate revision observed during the assembly elections held in states such as Tamil Nadu and West Bengal among others. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Petrol had crossed the Rs 100 mark in Mumbai on May 29 and currently stand at Rs 100.72 per litre. Diesel is retailed at Rs 92.69 per litre in Mumbai. Moreover, the petrol rates had already crossed the Rs 100-mark in several cities of Madhya Pradesh and Rajasthan. Fuel rates vary across the states in the country due to value-added tax or VAT.
Below are the latest petrol and diesel prices across four metro cities:
The state-run oil marketing companies including Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with that of global crude oil prices by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Meanwhile, oil prices settled higher on Tuesday, with brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output.
Brent crude futures for August settled up 93 cents, or 1.3 per cent, to $70.25 a barrel after hitting $71 earlier in the session – its highest intra-day price since March 8. U.S West Texas Intermediate crude for July was up $1.40, or 2.1 per cent, to $67.72