Fuel prices were hiked for the 12th time since May 4 as petrol prices have inched closer to the Rs 100-mark in Mumbai while diesel prices went past the Rs 84-mark in Delhi. Petrol rates were jacked up by 24 paise and diesel by 25 paise.
In Delhi, petrol prices surged to Rs 93.44 per litre while diesel went up to Rs 84.32 per litre. Petrol prices climbed to Rs 99.71 per litre in Mumbai whereas one needs to pay Rs 91.57 for a litre of diesel in India's financial capital.
Citizens in Kolkata will have to pay Rs 93.49 for a litre of petrol whereas diesel costs Rs 87.16 per litre. In Chennai, petrol prices went up to Rs 95.06 per litre while diesel rose to Rs 89.11 per litre.
Fuel prices have surged way past the Rs 100-mark in many parts of Maharashtra, Madhya Pradesh and Rajasthan as these states levy exorbitantly high VAT on fuel.
Bhopal became the first state capital in India where petrol prices have crossed the Rs 101-mark and reached Rs 101.52 per litre whereas diesel reached Rs 92.77 per litre in Bhopal. Petrol is the costliest in Rajasthan's Sriganganagar at Rs 104.42 per litre whereas one needs to shell out Rs 97.18 for a litre of diesel, as per IOC data.
State-backed oil marketing companies (OMCs) decide fuel prices on a day-to-day basis depending on the global oil prices and VAT levied on fuel by states.
Global oil prices are steady today after jumping more than 3 per cent the previous session as prospects of an early return of oil exporter to international crude markets lessened, Reuters reported. Brent crude futures went down by 6 cents to $68.40 per barrel whereas US West Texas Intermediate went down by 8 cents to $65.97 per barrel.
Edited by Mehak Agarwal
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