Fuel Prices Hiked Nine Times This Month; Petrol Breaches Rs. 100 /Litre Mark In Several Cities

Petrol and diesel rates on Sunday touched new all-time highs as domestic fuel prices were hiked by up to Rs. 24 paise a litre and up to 27 paise a litre, respectively. The state-owned oil marketing companies (OMCs) hiked fuel rates on nine occassions since May 4, making petrol and diesel costlier by Rs. 2.18 per litre and Rs. 2.49 per litre, respectively. In the national capital, the two auto fuels on Sunday were priced at Rs. 92.58 per litre and Rs. 83.22 per litre, respectively. Among all metros, Mumbai has the highest fuel rates as petrol and diesel retail at Rs. 98.88 a litre and Rs. 90.40 per litre, respectively.

Also Read: Petrol, Diesel Prices Hiked Again; Petrol Above ₹ 103/Litre Mark In Sri Ganganagar And Anuppur​

Petrol and diesel prices have touched new all-time highs across the country

Petrol prices above Rs. 100 per litre mark in these cities on May 16, 2021:

Petrol rates have breached Rs. 100 per litre mark in certain parts of Rajasthan, Madhya Pradesh and Maharashtra. In Rajasthan's Sri Ganganagar, fuel prices are the highest in the country, as petrol stood at Rs. 103.52 per litre, while diesel was priced at Rs. 95.99 per litre. Petrol prices scored a century in other cities like Ratnagiri, Parbhari, Aurangabad, Indore, Bhopal, Gwalior, Jaisalmer, and Banswara. Do note, Rajasthan levies the highest VAT on petrol in the country followed by Madhya Pradesh.

In Jaipur, petrol surpassed Rs. 99 per litre mark as prices went up by 22 paise to Rs. 99.02 per litre. Diesel prices also soared to Rs. 91.86 a litre witnessing a hike of 29 paise. In Navi Mumbai and Thane, petrol rates are inching towards Rs. 100 per litre mark. Buyers in these cities will have to pay Rs. 99.02 a litre and Rs. 99 a litre for petrol, while diesel is priced at Rs. 90.54 per litre and Rs. 90.52 per litre, respectively. Petrol rates in Kolhapur and Nashik are just a rupee short of Rs. 100 per litre mark, retailing at Rs. 99.02 a litre and Rs. 99.27 a litre, respectively.

Petrol retails above Rs. 103 per litre mark in Sri Ganganagar & Anuppur

Also Read: Petrol Prices Surpass ₹ 100/Litre Mark For The Second Time This Year​

Fuel rates differ from state to state depending on the incidence of local taxes such as value-added tax (VAT). Taxes on auto fuels and fluctuation in global oil prices are two key factors for higher petrol and diesel rates. Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Indian Oil Corporation are the country's three major oil marketing firms that revise fuel rates on daily basis.