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Fuel prices hiked again, petrol above Rs 100 in Mumbai

The fresh increase marks the 15th time the prices have gone up this month
Last Updated : 31 May 2021, 02:56 IST
Last Updated : 31 May 2021, 02:56 IST

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Fuel prices were hiked again on Saturday taking petrol price in Mumbai beyond Rs 100/per litre while diesel rates stood at Rs 92.17, according to Indian Oil Corporation.

The fresh increase marks the 15th time the prices have gone up this month. Petrol witnessed a hike of 26 paise and diesel was up by 30 paise in metros across the country.

In Delhi, petrol now costs Rs 93.94 and diesel is priced at Rs 84.89 per litre.

Kolkata's petrol and diesel rates stood at Rs 93.97 and Rs 87.74 respectively.

The increase - 15th this month - took petrol and diesel prices to a fresh all-time high across the country.

The price of petrol, which had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the psychological barrier in Mumbai on Saturday.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.

This is the 15th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 104.94 per litre and Rs 97.79 a litre, respectively.

In 15 increases, petrol price has risen by Rs 3.54 per litre and diesel by Rs 4.16.

(With inputs from agencies)

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Published 29 May 2021, 04:53 IST

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