The state-owned oil retailers on Sunday increased fuel prices across the country. Domestic rates of petrol and diesel have been hiked by up to 24 paise a litre and up to 27 paise a litre, respectively. This is the fifth price hike this week and the ninth instance since May 4, when oil marketing companies ended a hiatus in rate revision post assembly elections. With the latest revision, petrol and diesel are being retailed at Rs. 92.58 per litre and Rs. 83.22 per litre in the national capital. On Friday, fuel rates were increased by 29 paise per litre and diesel by 34 paise a litre.
Also Read: Fuel Prices Hit New Record Highs; Petrol Crosses ₹ 92/Litre Mark In Delhi
Fuel rates have already breached Rs. 100/litre mark in certain parts of Rajasthan, Madhya Pradesh and Maharashtra.
Here are the prices of petrol and diesel per litre in select cities on May 16, 2021:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | Rs. 92.58 | Rs. 83.22 |
| Mumbai | Rs. 98.88 | Rs. 90.40 |
| Chennai | Rs. 94.31 | Rs. 88.07 |
| Kolkata | Rs. 92.67 | Rs. 86.06 |
| Bengaluru | Rs. 95.66 | Rs. 88.22 |
| Sri Ganganagar | Rs. 103.52 | Rs. 95.99 |
| Anuppur | Rs. 103.21 | Rs. 93.98 |
| Bhopal | Rs. 100.63 | Rs. 91.59 |
| Parbhani | Rs. 101.25 | Rs. 91.30 |
In the financial capital, petrol and diesel prices have touched new all-time highs. Buyers in Mumbai will have to pay Rs. 98.88 for one litre of petrol and Rs. 90.40 a litre for diesel. Other metropolitan cities have witnessed similar price hikes in fuel rates. In Chennai, petrol is priced at Rs. 94.31 per litre, while diesel costs Rs. 88.07 per litre in Chennai. Petrol and diesel prices in Kolkata have reached Rs. 92.67 a litre and Rs. 86.06 a litre, respectively. In Bengaluru, petrol is currently retailed at Rs. 95.66 per litre, while diesel is priced at Rs. 88.22 per litre.
Petrol rates have already breached Rs. 100/litre mark in certain parts of Rajasthan, Madhya Pradesh and Maharashtra. In Rajasthan's Sri Ganganagar, petrol stood at Rs. 103.52 per litre while diesel soared to Rs. 95.99 per litre. Petrol in Bhopal is priced at Rs. 100.63 a litre, while diesel costs Rs. 91.59 a litre. In Anuppur district of Madhya Pradesh, the fuel rate stood at Rs. 103.21 per litre and Rs. 93.98 per litre, respectively. Customers in the Parbhani district of Maharashtra will have to pay Rs. 101.25 a litre and Rs. 91.30 a litre for petrol and diesel, respectively. Do note, Rajasthan levies the highest VAT on petrol in the country, followed by Madhya Pradesh.
In Kolkata, petrol and diesel retailed at Rs. 92.67 per litre and Rs. 86.06 per litre, respectively.
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). Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Indian Oil Corporation are the country's three major oil marketing firms and they revise fuel rates on daily basis. They also make necessary changes to align the petroleum prices with the global benchmark and dollar-rupee exchange rate.
