Crude shock: Petrol, diesel prices hiked again today after a month's relief

After declining by around Rs 2-3 over a month period, petrol and diesel prices rose for the first time in a month across the four metros on Thursday.

In the national capital, petrol was sold at Rs 75.71 per litre, up from Rs 75.55 on Wednesday, data on the Indian Oil Corp's website showed.

In the other key cities of Kokata, Mumbai and Chennai, the fuel was priced at Rs 78.39, Rs 83.10 and Rs 78.57 per litre, respectively, against the previous levels of Rs 78.23, Rs 82.94 and Rs 78.40 per litre.

This rise in prices comes after prices started to decline on May 30. Also, both the petrol and diesel prices were unchanged for nine days till June 4.

This rise in fuel prices assumes significance as just prior to the recent decline, petrol and diesel prices rose to all-time high levels across the four metropolitan cities, that too at a much higher rate.

In contrast to the fall of nearly Rs 3 in petrol prices in the last 36 days, price of the fuel had spiralled nearly Rs 4 in just 16 days before prices started to drop.

Similarly, diesel prices also rose on Thursday after declining by nearly Rs 2 per litre in the last one month.

Diesel prices in Delhi, Kolkata, Mumbai and Chennai on Thursday were Rs 67.50, Rs 70.05, Rs 71.62 and Rs 71.24, respectively, up from Rs 67.38, Rs 69.93, Rs 71.49 and Rs 71.12 per litre.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel