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Petrol, diesel prices today: Fuel prices today witnessed a big hike after over a month. Petrol price has been hiked by 16-17 paise in major metro cities, while diesel price has been hiked by 12-13 paise. Petrol and diesel prices had reached record highs on May 29, and this is the first hike since then. The fuel prices were either cut or kept unchanged understandably on the back of international crude oil prices, which also slumped in that duration.

Petrol price in Delhi today is at Rs 75.71 per litre, up from Rs 75.55 per litre on June 21. In Mumbai, petrol price is Rs 83.10 per litre. Yesterday it was Rs 82.94 per litre. In Chennai and Kolkata, petrol prices are Rs 78.57 per litre and Rs 78.39 per litre. Yesterday, the rates in these two metro cities were Rs 78.40 per litre and Rs 78.23 per litre. It means that petrol prices were hiked 16-17 paise.

Diesel price also went up by 12 paise in Delhi and currently stands at Rs 67.50 per litre. Diesel price in Mumbai is Rs 71.62 per litre, up from yesterday’s Rs 71.49 per litre. Diesel price in Kolkata is Rs 70.05  per litre. In Chennai, it is Rs 71.24 per litre. Revise rates are applicable from 6:00 am on July 5, 2018.

Meanwhile, Brent oil rose yesterday, driven higher by a threat from an Iranian commander and a drop in US crude inventories for the second week in a row, Reuters reported. The price rose above $78 a barrel after an Iranian Revolutionary Guards commander said he was ready to prevent regional crude exports if Iranian oil sales were banned by the United States.

Meanwhile, back home the Narendra Modi government said that they were looking for both ‘long-term’ and ‘short-term’ solutions to cushion the people against rising fuel prices. BJP ministers Devendra Fadnavis and Nitin Gadkari and Oil minister Dharmendra Pradhan voiced their opinion in favour of bringing petrol and diesel under the ambit of Goods and Services Tax (GST).

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