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The prices of petrol and diesel were increased for the second day in a row on Sunday in the four metro cities of India amid a trend of near-continuous rise in prices since the month of May 2021. With the latest hike, petrol prices in Mumbai have reached Rs.104.56/litre, the highest among all metro cities. The price had already crossed the Rs.104/litre mark in the commercial capital on Saturday.
In the national capital, the prices of petrol and diesel were hiked by 35 paise and 25 paise respectively on Sunday. A litre of petrol is now retailing at Rs 98.46 per litre in Delhi while diesel is priced at Rs.88.90/litre.
Meanwhile, in Mumbai, the price of petrol increased by 34 paise to touch Rs.104.56/litre. Diesel prices were also raised by 26 paise to cost the consumers at Rs.96.42 per litre.
The latest round of price hikes of the two fuels has affected Kolkata and Chennai as well. According to data released by Indian Oil, a litre of petrol is now sold at Rs.98.30 in Kolkata while diesel was retailing at Rs.91.75 per litre.
In the southern city of Chennai, petrol and diesel prices have been hiked and have reached at Rs 99.49 per litre and Rs.93.46 per litre.
The prices of petrol and diesel vary across different parts of the country due to different tax rates applied by various state governments on the two petroleum-based fuels. Rajasthan charges the highest VAT(value-added tax) followed by Madhya Pradesh and Maharashtra. Petrol is the most expensive in the city of Bhopal, costing Rs.106.71/litre.
The latest round of price hike, starting from May 4, has led to petrol prices crossing the Rs 100 mark in several states including Maharashtra, MP, Rajasthan, Andhra Pradesh, Telangana and Karnataka.