Gas crosses Rs 100 mark in nine states consisting of Telangana, Karnataka, Maharashtra


New Delhi: Fuel cost in Chennai neared the Rs 99-a-litre mark on Thursday after fuel costs were increased again on firming worldwide oil rates.

The rate of fuel was hiked by 26 paise per litre which of diesel by 27 paise a litre, according to a cost notification of state-owned fuel sellers.

The increase took rates across the country to fresh highs.

In Delhi, gas struck an all-time high of Rs 97.76 a litre, while diesel is now priced at Rs 88.30 per litre.

Fuel prices differ from one state to another depending on the occurrence of local taxes such as value-added tax (BARREL) and freight charges.

And, for this factor, gas has actually crossed the Rs 100-a-litre mark in nine states and Union areas– Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, and Ladakh.

Among city cities, gas is currently above Rs 100 in Mumbai, Hyderabad and Bengaluru. And now rates are inching closer to that mark in Chennai.

Petrol in Chennai now costs Rs 98.88 per litre. Diesel in the city is priced at Rs 92.89 a litre.

In Mumbai, gas now costs Rs 103.89 a litre and diesel comes for Rs 95.79.

Rates of diesel, the most used fuel in the country, had crossed the Rs 100-a-litre mark in Sri Ganganagar and Hanumangarh in Rajasthan earlier this month. Now, they have actually crossed the same mark in a number of locations in Odisha.

The hike on Thursday is the 29th increase in costs since May 4, when state-owned oil companies ended an 18-day hiatus in rate revision they observed throughout assembly elections in states like West Bengal.

In 29 hikes, the cost of fuel has increased by Rs 7.36 per litre and diesel by Rs 7.77 a litre.

Oil companies modify rates of gas and diesel everyday based upon the typical rate of benchmark fuel in the worldwide market in the preceding 15 days, and foreign exchange rates.

International oil rates have actually firmed up in recent weeks in anticipation of demand recovery following the rollout of vaccination programmes by different nations.

Oil costs got on Thursday after a sharp drawdown in US stocks strengthened optimism of a quick recovery in fuel need and on doubts about the future of the 2015 Iran nuclear offer that might end US sanctions on Iranian unrefined exports.

Brent crude skyrocketed past the USD 75 per barrel mark, the very first time because April 2019.

Likewise, the rupee has actually compromised against the United States dollar, making imports costlier.

Released at Thu, 24 Jun 2021 07:41:22 +0000