Fuel Prices Touch All-Time Highs, Petrol Breaches Rs. 98/Litre Mark In Mumbai

The state-run oil marketing companies on Tuesday hiked domestic fuel prices across the country for the second consecutive day. With the latest revision in fuel rates, petrol and diesel prices touched new all-time highs after a pause over the weekend. As per the notification from oil retailers, petrol and diesel prices have become dearer by up to 27 paise and up to 30 paise, respectively. In Delhi, petrol prices are inching towards Rs. 92/litre mark as it currently retails at Rs. 91.80 per litre. Diesel rates have increased from Rs. 82.06 per litre to Rs. 82.36 per litre in the national capital.

Also Read: Fuel Prices Surge Again After Weekend Pause

Petrol and diesel prices in Rajasthan's Sri Ganganagar stand at Rs. 102.70 a litre and Rs. 95.06 a litre, respectively 

Here are the prices of petrol and diesel per litre in the five metros on May 11, 2021:

In the financial capital of the country, petrol prices breached Rs. 98 per litre mark while diesel is almost Rs. 90 per litre. Buyers in Mumbai will have to pay Rs. 98.12 for one litre of petrol and Rs. 89.48 a litre of diesel. Petrol price in Chennai has been increased to Rs. 93.62 per litre, while cost of diesel has hiked to Rs. 87.25 per litre. In Kolkata, petrol and diesel retailed at Rs. 91.92 per litre and Rs. 85.20 per litre, respectively. The two auto fuels in Bengaluru now cost Rs. 94.85 a litre and Rs. 87.33 a litre.

As per data available on Indian Oil Corporation's website, diesel has breached Rs. 95/litre mark in Rajasthan's Sri Ganganagar, while petrol soared to Rs. 102.70 per litre. Retail diesel price in Madhya Pradesh's Anuppur has almost touched Rs. 93/litre mark whereas petrol is retailing at Rs. 102.40 a litre.

The fuel prices differ from state to state, which depends on the value-added tax (VAT)

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

Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. They revise domestic fuel prices with global benchmarks by taking into account alterations in the foreign exchange rates accordingly. The fuel rates vary from state to state in the country due to the value-added tax or VAT.