In relief to transport sector, OMCs raised petrol prices as global cues pushed fuel prices up across the country on Friday adding to common man’s misery, even as he already grapples with high food prices amid shrinking income.
But this time round, the oil companies have only increased the pump price of petrol while keeping diesel rates unchanged to limit the cascading effect of high transport fuel on prices of various other commodities.
Accordingly, the retail price of petrol increased by 35 paise per litre in the national capital on Friday to Rs 99.16 while diesel prices maintained previous days price line of Rs 89.18 a litre.
With the rise, petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.
The latest price rise has also brought Chennai in the list of metro cities hitting the century mark with petrol. The fuel is now priced at Rs 100.13 a litre in the city. Mumbai is the other metro city where petrol prices have crossed the century mark and reached Rs 105.24 a litre.
The price of petrol is very close to hitting century even in Delhi and Kolkata.
Across the country as well petrol prices increased on Friday but its retail prices varied depending on the level of local taxes in different states.
Sri Ganganagar in Rajasthan has highest level of fuel prices in the country. Petrol is priced there at Rs 110.40 a litre while diesel is at Rs 102.42 a litre on Friday.
With the day’s price hike, fuel prices have now increased on 33 days and remained unchanged on 30 days since May 1. The 33 increases has taken up petrol prices by Rs 8.77 per litre in Delhi. Similarly, diesel have increased by Rs 8.45 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of worlds largest fuel guzzler — the US, retail prices of fuel in India is expected to firm up further in coming days.
The benchmark Brent crude reached multi-year high level of over $76 on the Intercontinental Exchange.