Fuel rates across the nation observed a slight rise on Tuesday. Petrol price in the national capital hiked from Rs 97.22 per litre on Monday to Rs 97.50 per litre today. While the retail price for diesel observed a slight drop from Rs 87.97 per litre on Monday to Rs 88.23 per litre on Tuesday.
alteration of fuel prices is done in line with benchmark international price and foreign exchange rates on a daily basis by Oil Marketing Companies (OMCs) like Shell, Bharat Petroleum Corporation Ltd (BPCL), Essar, Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL).
The metro city of the nation where petrol and diesel prices are at every time high is Mumbai. In another marginal increase on Tuesday, petrol is selling at Rs 103.63 per litre, while diesel is being retailed at Rs 95.72 per litre. In the capital city of Tamil Nadu, Chennai, petrol rates on Tuesday touched Rs 98.65 per litre from Rs 98.40 per litre yesterday. While the price for diesel remained at Rs 92.83 per litre, a slight fall from Monday when it retailed at Rs 92.58 for a litre. In the capital of West Bengal, Kolkata, the retail price of petrol for a litre on Tuesday is Rs 97.38,a slight rise from Rs 97.12 per litre on Monday. While the price for Diesel escalated to Rs 91.08 per litre from Rs 90.82 per litre on Monday.
The difference of fuel costs in cities across the nation occurs due to various factors like local taxes, transportation freight charges, VAT, Rupee-Dollar exchange rate and others. The international costs of crude oil soared with Brent Crude Oil trading at $75.20 per barrel, and WTI Crude trading at $73.64 per barrel on Tuesday.