INSUBCONTINENT EXCLUSIVE:
Petrol and diesel prices had touched their all-time highs in some cities last month
Petrol and diesel prices were kept steady for the second straight day on Thursday
No change in fuel prices comes after two weeks of cuts, when petrol was made cheaper by Rs 2 per litre while diesel prices were reduced by
Domestic petrol and diesel prices, determined by global crude oil rates and the rupee-dollar exchange rate, had touched all-time highs in
Weakness in the rupee to 68.42 against the US dollar - an 18-month low - and a surge in international crude oil prices to 2014 highs, around
$80 per barrel, had pushed domestic fuel rates higher in May, say analysts.1
With effect from 6 am on Thursday, June 14, petrol and diesel prices were at Rs 76.43 per litre in Delhi, Rs 79.1 per litre in Kolkata, Rs
84.26 per litre in Mumbai and Rs 79.33 per litre in Chennai, according to Indian Oil Corporation
litreAgartala72.2265.99Aizwal72.3465.18Ambala76.5468.36Bangalore77.6769.02Bhopal82.0271.41Bhubhaneswar75.2572.73Chandigarh73.5165.89Dehradun
77.7668.18Gandhinagar75.7472.92Gangtok79.569.6Guwahati78.5770.82Hyderabad80.9673.75Imphal74.5265.92Itanagar72.3365.14Jaipur79.1772.26Jammu78
.1669.02Jullunder81.6467.77Kohima74.9166.22Lucknow77.2568Panjim70.4369.05Patna81.9172.53Pondicherry75.2370.09Port
Blair65.8963.6Raipur76.8473.25Ranchi76.4171.64Shillong75.8367.67Shimla76.667.49Srinagar80.8571.24Trivandrum79.5372.63Silvasa74.3568.67Daman7
4.2868.6(Source: iocl.com)2
The 14 days of downward movement in petrol and diesel prices followed 16 consecutive hikes last month
From May 14 to May 29, petrol prices were increased in the range of Rs 3.74-4 a litre across the four metros and diesel prices raised by Rs
Overall, in the month of May, petrol prices were raised in the range of Rs 3.66-3.92 per litre while the quantum of increase was to the tune
of Rs 3.17-3.56 in case of diesel prices.4
On Thursday, crude oil prices eased, dragged down by rising output, although strong demand and a drop in US fuel inventories provided some
Brent crude futures, the international benchmark for oil prices, were near $76.50 per barrel, down 0.4 per cent from the previous close.5
The rupee rose marginally higher to 67.57 against the US dollar on Thursday morning
Some weakness in the dollar despite the Federal Reserve hiking interest rates overnight, and signaling two more hikes this year, supported
the rupee against the greenback, say analysts.(With agency inputs)
