Petrol prices reach a historic rate of ₹103.63 a litre in Mumbai

According to a price notification by state-owned fuel retailer, the fuel prices across the country were taken to a historic high after A-day of pause when on 22nd June the prices for petrol and diesel were hiked once again by 25 to 28 paise.

From the previous day price of ₹103.36 per litre, petrol prices were increased by 27 paise and thereby hit an all-time high of ₹103.63 per litre in Mumbai. With petrol being sold over the ₹100 per litre mark, Mumbai became the first metro in the country to have such a high price on fuel on 29th May. Up from ₹95.44 per litre in the financial capital, diesel also increased by 28 paise to retail at ₹95.72 per litre in the city.

In the national capital, the prices of petrol and diesel were increased by 28 paise and 26 paise respectively leading to a retail cost of petrol at ₹97.50 per litre and diesel at ₹88.23 per litre. An increase in fuel prices with petrol and diesel rose by 25 paise each, was witnessed by Chennai also. The price of petrol was ₹98.65 per litre and diesel at ₹92.83 per litre in Chennai.

With a rise of 26 paise, the hike in fuel prices in Kolkata led diesel to cross ₹91 per litre along with the petrol price increasing by 26 paise and reaching ₹97.38 per litre in the city. Followed by Madhya Pradesh, Maharashtra, Telangana and Andhra Pradesh, Rajasthan levies the highest Value Added Tax (VAT) on petrol and diesel in the country.

Daily based on the average price of benchmark fuel in the International market in the preceding 15 days and foreign exchange rates, the oil companies revise rates of petrol and diesel.

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