Fuel prices hiked; petrol nears Rs 100 a litre in Chennai

After a day of pause, petrol prices have been increased by up to 35 paise while diesel by up to 28 paise on Tuesday, 29 June, taking fuel prices across the country to a historic high.

The 32nd increase in fuel prices in less than two months took the petrol price in Delhi to Rs 98.81 per litre and diesel to Rs 89.18 per litre.

In Mumbai, petrol price hit an all-time high of Rs 104.90 a litre, with an increase of 34 paise. Diesel price was also increased by 30 paise to retail at Rs 96.72 per litre in the financial capital.

In Chennai, petrol and diesel prices were hiked by 31 paise and 26 paise, respectively. The price of petrol was Rs 99.80 per litre and that of diesel was Rs 93.72 per litre in Tamil Nadu’s capital.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.

International oil prices have climbed in recent weeks on optimism of a quick recovery in fuel demand.