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Fuel rates hiked for 29th time since May 4; petrol nears Rs 104 per litre in Mumbai

Fuel rates hiked for 29th time since May 4; petrol nears Rs 104 per litre in Mumbai

In Mumbai, petrol prices are inching closer towards the Rs 104 per litre-mark. A litre of petrol sells for Rs 103.89 while diesel costs Rs 95.79 per litre in India's financial capital.

Fuel rates continue to severely impact the common man's budget as petrol and diesel rates were hiked for the 29th time since May 4. Petrol and diesel rates were kept unchanged on Wednesday (June 23).

While petrol prices have risen by 28 paise, diesel prices saw a minor hike of 7 paise. Petrol now costs Rs 97.76 per litre in Delhi while diesel sells for Rs 88.30 per litre in the national capital.

In Mumbai, petrol prices are inching closer towards the Rs 104 per litre-mark. A litre of petrol sells for Rs 103.89 while diesel costs Rs 95.79 per litre in India's financial capital.

Citizens in Chennai have to pay Rs 98.88 per litre for petrol while diesel costs Rs 92.89 per litre. Petrol sells for Rs 97.63 per litre while diesel costs Rs 91.15 per litre in Kolkata.

Fuel is selling at an exorbitant price in Rajasthan's Sri Ganganagar district, located near India-Pakistan border. Petrol sells at Rs 108.94 per litre-the most expensive across India while diesel sells for Rs 101.48 per litre, as per IOC data.

State-backed oil marketing companies (OMCs) revise fuel prices daily on the basis of local taxes like VAT, freight charges, the average price of benchmark fuel in the global market in the preceding 15 days and foreign exchange rates.

Rajasthan levies the highest VAT on fuel, followed by Maharashtra and Madhya Pradesh.

After the recent hike, petrol prices have crossed Rs 100 per litre in states like Andhra Pradesh, Bihar, Chhattisgarh, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Odisha, Rajasthan, Tamil Nadu and Telangana.

Global oil prices rose on Thursday after a fall in US crude and gasoline stocks reinforced hopes of fuel demand recovery. Brent crude rose 9 cents or 0.1 per cent to $75.28 per barrel whereas US West Texas Intermediate (WTI) crude futures rose by 6 cents to 0.1 per cent to $73.41 per barrel, Reuters reported.

Edited by Mehak Agarwal

Also read: Oil prices rise on fall in US stocks, Brent crude reaches $75.28 per barrel

Also read: No respite! Petrol crosses Rs 100 per litre in more cities, diesel prices rise too

Published on: Jun 24, 2021, 10:18 AM IST
Posted by: intern five, Jun 24, 2021, 10:18 AM IST