Despite a 2% drop in international oil prices, the rise in car fuel costs remained relevant on Tuesday, with petrol breaking above the ₹100 barrier for the very first period in West Bengal and hitting the ₹110 mark in Ganganagar
On Tuesday, state-run retail businesses hiked petrol and diesel prices by 35 paise per litre and 28 paise per litre, the 32nd jump in 57 days, bringing petrol to ₹8.41 per litre and diesel to ₹8.45 per litre since May 4, a day after outcomes of five assembly elections was announced.
On Monday, benchmark Brent crude slid 1.96 percent to $74.68 a barrel, after reaching a high of $74.68 in October.
International oil prices fell because to an increase in Covid-19 cases in Asian and European countries, as well as the expectation that the oil cartel and its allies (OPEC+) will restore petroleum supply on July 1. Domestic fuel merchants match gasoline and diesel pump prices to the previous day's international benchmarks, which typically fluctuate in lockstep with crude oil prices.
West Bengal joined the party of states and union territories (UTs) where fuel prices have surpassed the 100 marks, with Darjeeling pumps now selling petrol at a price of ₹100.08 per litre and diesel at ₹93.16 per litre. The rising movement is unidirectional.
Since May 4, gasoline has already surpassed the ₹100 level in a number of locations throughout the country and Maharashtra, Rajasthan, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Odisha, Manipur, Jammu & Kashmir, Ladakh, Punjab, Bihar, Kerala, Tamil Nadu, and West Bengal are among the states and union territories affected.
Mumbai, Ratnagiri, Aurangabad, Jaisalmer, Ganganagar,Indore, Bhopal, Gwalior, Guntur, Kakinada, Chikmagalur, Shivamogga, Hyderabad, Leh, Imphal, Kalahandi, Patna, Salem, Thiruvananthapuram, Mohali, and Darjeeling are among the cities selling fuel for more than 100 rupees.
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