Petrol and diesel prices were hiked for the second consecutive day across metros on June 27. This is the 31st hike in prices since May 4, when Oil Marketing Companies had ended an 18-day hiatus in rate revision observed during the assembly elections.
With the latest hike in prices, petrol now retails at an all-time high of Rs 104.56 a litre in Mumbai, while diesel is priced at Rs 96.42.
In Delhi, the price hike led to a litre of petrol retailing at 98.46 per litre and diesel at Rs 88.90 in the national capital.
Chennai also saw an increase in fuel prices with petrol rising to Rs 99.49 per litre and diesel for Rs 93.46.
In Kolkata, petrol was sold at Rs 98.30 per litre and diesel at Rs 91.75 per litre following the price rise.
Petrol & Diesel Rates Yesterday
The petrol price is highest across India in Bhopal at Rs 106.71 per litre, while diesel costs Rs 97.63.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. And because of this, petrol retails at over Rs 100 per litre mark in at least eight states and union territories -- Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir and Ladakh.
Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Sri Ganganagar district of Rajasthan near the India-Pakistan border was the first place in the country to see petrol hitting Rs 100 a litre mark in mid-February and earlier this month it also earned the distinction of diesel crossing that psychological mark.Oil companies revise petrol and diesel rates daily based on the average price of benchmark fuel in the international market in the preceding 15 days and foreign exchange rates.