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.
In Delhi, petrol hit an all-time high of ₹98.81 a litre while diesel retailed at ₹88.18 per litre. The recent revision has taken the petrol price near ₹105 in Mumbai as it is retailing at ₹104.90 in the city and diesel at ₹96.72 a litre.
The price of petrol in Chennai is at ₹99.80 per litre and that of diesel at ₹93.72 per litre. In Kolkata, the latest increase pushed the petrol price to ₹98.64 per litre and diesel to ₹92.03 per litre in West Bengal’s capital.
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.
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