After a day’s hiatus, the prices of petrol and diesel were hiked on Thursday. Petrol rate in Mumbai neared ₹100 a litre after fuel prices were raised again.
Petrol prices have been increased by around 23 paise and diesel by around 30 paise, according to state-run fuel retailer Indian Oil Corporation (IOC) data.
The 14th increase in prices since May 4 has pushed petrol and diesel prices to record-high levels across the country.
Check latest rates in major cities:
Delhi —Petrol-93.44 per litre ,,Diesel-84.32 per litre
Mumbai —Petrol-99.49 per litre ,, Diesel-91.30 per litre
Chennai —Petrol-95.06 per litre ,,Diesel-89.11 per litre
Kolkata —Petrol-93.49 per litre ,,Diesel-87.16 per litre
Fuel prices on Wednesday remained unchanged across the metros after the prices were increased on Tuesday.
Rates had already crossed the ₹100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, the price in Mumbai too was inching towards that level.
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.
Oil companies revise rates of petrol and diesel daily based on average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.