Fuel prices up again after a day of remaining static

Fuel prices were unchanged on June 15

A day after remaining unchanged following a record hike in rates, fuel prices rose again slightly on June 16, with petrol in Mumbai rising from Rs 102.58 per litre to Rs 102.82 per litre and diesel rising from Rs 94.70 per litre to Rs 94.84 per litre.

Petrol in the national capital Delhi is now priced at Rs 96.66 a litre (after a 25 paise rise) while diesel costs Rs 87.41 a litre, up by 13 paise.

Bhopal continued to shock with a further increase in petrol prices to Rs 104.85 per litre while diesel is priced at Rs 96.05 per litre.

In Bengaluru, the petrol rate was just shy of Rs 100, costing Rs 99.89 per litre and diesel costs Rs 92.66 per litre.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. The increase in prices is due to a combination of rising international oil prices and central and state taxes.

In the international crude market, oil prices rose on Wednesday, with Brent gaining for a fifth consecutive session, as falling stockpiles and a recovery in demand encouraged investors.

Brent crude was up 69 cents, or 0.9 per cent, at $74.68 a barrel by 0200 GMT, having risen 1.6 per cent on Tuesday.

US crude gained 66 cents, or 0.9 per cent, to $72.78 a barrel, after rising 1.7 per cent in the previous session.