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Fuel prices on fire! Petrol nears Rs 101 per litre in Mumbai

After a hike of 26 paise, petrol in Mumbai has inched closer to Rs 101 per litre. One needs to pay Rs 100.98 for a litre of petrol in India's financial capital.

Petrol and diesel prices rose for the 44th time this year so far on Friday (June 4).

After a hike of 26 paise, petrol in Mumbai has inched closer to Rs 101 per litre. One needs to pay Rs 100.98 for a litre of petrol whereas diesel sells for Rs 92.99 per litre in India's financial capital.

With a hike of 27 paise, petrol prices reached Rs 94.76 per litre in Delhi while diesel sold at Rs 85.66 per litre in the national capital. Citizens in Chennai will have to pay Rs 96.23 for a litre of petrol and Rs 90.38 per litre for diesel, according to IOC data.

In Kolkata, one needs to shell out Rs 94.76 for a litre of petrol and Rs 88.51 per litre for diesel.

Due to the recent hikes, petrol prices have crossed the Rs 100-mark in as many as 135 districts across India particularly in Rajasthan, Maharashtra and Madhya Pradesh.

Petrol prices are exorbitantly high in these states due to the value-added tax (VAT) and freight charges levied by respective state governments. Petrol is selling at Rs 105.80 per litre in Rajasthan's Sriganganagar. In Hanumangarh, petrol is getting sold at Rs 105. 10 per litre.

Fuel prices are decided on the basis of the fluctuations in global oil prices. As a patchy COVID-19 inoculation rollout globally affected fuel demand, oil prices plummeted on Friday. Brent crude dropped by 29 cents or 0.4 per cent to $71.02 per barrel, Reuters reported.

Edited by Mehak Agarwal

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