Petrol price in India hiked by Rs 4 per litre in 2 weeks; Now Kolkata rates hits Rs 81 mark, check others

Each coming day consumers are ending up paying record high petrol prices in various state capitals. Today, the state-owned Oil companies increased petrol prices in the range of 15 paisa to 17 per litre each in metro cities. Well, it's bad news even going forward for the end consumers as they are going to have to bear a heavier load in days to come. Now you are paying over Rs 86  per litre in Mumbai, over Rs 78 per litre in New Delhi and Rs 81 per litre in Chennai. Today, city Kolkata has also joined the Rs 81 per litre club. OMCs take into consideration the daily performance of international crude oil, government's excise duty and state's VAT for deriving final retail prices in India. 

Today the petrol price of New Delhi has touched a new high of Rs 78.27 per litre higher by 16 basis points compared to previous day price of Rs 78.43 per litre.

Going ahead India’s financial hub Mumbai has witnessed a situation where petrol price has hit Rs 86.24 per litre today, which is also up 16 paise against previous day price of Rs 86.06 per litre. This city has the most expensive petrol price. Over Rs 86 per litre has never been seen in this city. 

Furthermore, Chennai saw petrol at Rs 81.43  per litre on Tuesday, above 17 paisa compared to previous price of Rs  81.26 per litre.

Now in Kolkata, the price was raised by 15 paisa to Rs 81.06 per litre as against Rs 80.91 per litre of previous day. Customers now pay Rs 81 per litre in Kolkata as well. This would be third metro city to earmark over Rs 80s club.

Moreover, international crude oil prices were mixed in Asian trading on Tuesday, but remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply. 

Therefore, Brent crude futures were up 31 cents, or 0.41 percent, at $75.61 a barrel at 0213 GMT, after settling at their lowest since May 8 at $75.30.

U.S. West Texas Intermediate (WTI) crude was down $1.05, or 1.55 percent, at $66.83 a barrel, sitting around its lowest since April 17. 

Following the above factors, from May 14 to till today, petrol prices have rose by Rs 3.76 per litre in Mumbai and Rs 3.74 per litre in Kolkata, whereas New Delhi had slightly higher hike by Rs 3.80 per litre and Chennai the most by Rs 4 per litre.