Petrol, Diesel Prices Unchanged On June 13; Here's How Much You Pay For Fuel Now
In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel costs Rs 90.03.
Fuel rates were held steady on Friday, unchanged across all metro cities. The last major revision in petrol prices was in March 2024, when the rate was cut by Rs 2 per litre.
In Delhi, a litre of petrol costs Rs 94.77, while diesel costs Rs 87.67. In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel at Rs 90.03. In Chennai, petrol is now sold at Rs 100.80 a litre, and diesel costs Rs 92.39. Petrol is sold at Rs 105.41 in Kolkata, and diesel is priced at Rs 92.02.
In India, fuel prices have remained steady since May 2022, after the central government and various state governments reduced fuel taxes.
Currently, oil marketing companies such as state-run Indian Oil Corporation review the domestic prices of petrol and diesel on a daily basis, and any changes—determined broadly by the global crude oil prices and the foreign exchange rates—are effected at the fuel stations at 6:00 a.m.
The price revisions method, or the dynamic fuel price methodology, considers several factors such as international crude prices, the exchange rate of the rupee against the dollar, actual and expected demand, and the trade flow in global crude markets.
On Friday, crude extended gains with Brent crude—the global benchmark for crude oil—rising 5.26% to $73.01, following reports of an Israeli airstrike in Iran. The Israeli Air Force have conducted a strike in Iran on Thursday, reported Axios citing people in the know of the operation. Earlier, US President Donald Trump had said that Israel could strike Tehran.
US on Wednesday had ordered some of its staff to depart from the embassy in Baghdad after Iran threatened to attack US bases if talks over its nuclear program fall through.
However, the Brent crude had slipped below $59 in May, the lowest level since February 2021. In the last two months, crude prices have tumbled to four-year low, amid US President Donald Trump's tariff wars.
While it may have recovered some of the losses, it still remains lower this year as trade conflicts persist and OPEC+ has changed its strategy and abandoned the earlier strategy of defending higher prices by curbing output.
