In another hike this month, petrol prices got costlier by 34-35 paise and diesel by 28-30 paise on Tuesday after a day’s hiatus, taking fuel prices to another record highs in the country. The fuel prices remained unchanged on Monday.
Price of a litre of petrol on Tuesday was hiked by around 34 to 35 paise, taking the rate in Mumbai to 104.90. A litre of diesel saw a hike of 28 to 30 paise, taking the rate to 96.72 here.
Petrol is also at an all-time high in Delhi and a litre of the fuel is at ₹98.81 whereas a litre of diesel is at ₹88.18. In Kolkata, a litre of petrol and diesel is being sold at ₹98.64 and ₹92.03, respectively. The rates in Chennai are at ₹99.80 and ₹93.72.
The unidirectional upward movement since May 4 saw petrol already crossing ₹100 mark in various cities across the country, particularly in Maharashtra, Rajasthan, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Odisha, Manipur, Jammu & Kashmir and Ladakh.
Buying petrol in major Indian cities such as Mumbai costs almost twice as much as in New York. The record-high fuel prices are leaving some Indian car owners unable to afford the cost of using their vehicles and spurring the country’s transport industry to agitate for change, reported Bloomberg. The run-up in prices is adding to inflationary pressures to the economy amid a broad commodity rally.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest VAT on petrol and diesel in the country.