Fuel Prices on June 13: Check petrol, diesel rates in Delhi, Mumbai, and other cities

A worker fills a vehicle with petrol at a gas station in Dubai (File image: Reuters)

Petrol and diesel prices held steady on June 13 for over three weeks, according to the price notification by fuel retailers. Fuel prices have remained unchanged ever since the government on May 21 announced an excise duty cut on petrol by a record Rs 8 per litre and on diesel by Rs 6 per litre.

The cut translated into a reduction of Rs 9.5 a litre for petrol in Delhi and Rs 7 a litre for diesel. Petrol in Delhi now costs Rs 96.72 a litre as against Rs 105.41 a litre before, while diesel costs Rs 89.62 a litre as opposed to Rs 96.67 earlier.

In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre, respectively. In Kolkata, petrol is Rs 106.03, and diesel is Rs 92.76 per litre.

Oil marketing companies are passing on the excise duty cut to consumers despite incurring a loss of Rs 13.08 a litre on petrol and Rs 24.09 on diesel. India meets 80 percent of its oil needs through imports.

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Oil marketing companies– Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), and Indian Oil Corporation Ltd (IOCL)-- procure ethanol to blend with fuel before selling it. India achieved its target of an average of 10% blending across the country five months in advance earlier this month and now the government and industry are hopeful of expediting the more ambitious target of increasing the ethanol blending to 20% by 2025-26.

India is 85 per cent dependent on imports to meet its oil needs and so local pump rates are benchmarked against international prices. Industry sources said local pump rates are benchmarked to around USD 85 per barrel crude oil price but oil firms haven't changed rates as they aid the government in trying to control inflation, which already is ruling at an almost eight-year high of 7.8 per cent, PTI reported.