The fuel prices have gone up again in India after the hike in eight days. Now petrol and diesel are more expensive everywhere in India. The price of petrol has increased by ₹5 per litre in one week. This is happening even though the global crude oil prices have dropped.
If we look at the fuel price data we can see that Hyderabad has the petrol price in India at ₹112.81 per litre. Thiruvananthapuram is very close with a price of ₹112.64 per litre and Patna is at ₹111 per litre.
In Delhi the petrol price is now ₹99.51 per litre and the diesel price is ₹92.49 per litre. In Mumbai the petrol price has gone up to ₹108.45 per litre after a hike of 86 paise.
Here are the top 10 cities with the petrol prices:
- Hyderabad. ₹112.81/Litre
- Thiruvananthapuram. ₹112.64/Litre
- Patna. ₹111/Litre
- Kolkata. ₹110.64/Litre
- Jaipur. ₹109.84/Litre
- Mumbai. ₹108.45/Litre
- Bengaluru. ₹108.09/Litre
- Bhubaneswar. ₹106.18/Litre
- Chennai. ₹105.33/Litre
- Guwahati. ₹105.1/Litre
The diesel prices have also crossed ₹100 in two cities.
The diesel prices have jumped up a lot after the hike. Thiruvananthapuram has the diesel price at ₹101.55 per litre and Hyderabad has crossed ₹100 with a diesel price of ₹100.94 per litre.
So why are the fuel prices rising in India. The people who know about fuel prices say that the fuel prices are going up because the international crude oil prices are still above $100 per barrel. This is because of the problems in West Asia. India buys than 88% of its crude oil from other countries. So when the global market changes and the value of the rupee and dollar changes it affects the petrol and diesel prices in India.
There are also reports that the state-run oil companies were losing a lot of money every day. They were losing ₹1,000 crore per day this month. After the three fuel price hikes these losses have come down to below ₹500 crore per day.
The three main fuel retailers in India are Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum. They control than 90% of the fuel retail market, in India and they change the petrol and diesel prices at the same time.