Petrol and diesel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. (Representative image)
After a day of pause, prices of petrol were hiked again by 34 to 43 paise while diesel got a hike of 28 to 36 paise on July 10, taking fuel prices across the country to another historic high, according to a price notification by state-owned fuel retailers.
Petrol price, which has already crossed Rs 100 in more than half of the country, rose to Rs 106.97 a litre in Mumbai with an increase of 38 paise from the previous day price. The city, on May 29, became the first metro in the country where petrol was being sold at over the Rs 100-a-litre mark. Diesel price also increased by 32 paise to reach Rs 97.5 per litre.
In Delhi, two days after crossing the Rs 100 mark, the petrol price is now inching closer to Rs 101. The fuel retailed at Rs 100.95 per litre in the national capital on the day, up by 39 paise.
The diesel price increased by 32 paise on the day to retail at Rs 89.92 per litre.
With the July 10 increase in fuel prices, Kolkata crossed the Rs 101 mark. In West Bengal’s capital, petrol price reached 101.05 per litre with an increase of 43 paise from the previous day price of Rs 100.62 per litre. Diesel price also increased by 36 paise to reach Rs 93.01 per litre.
Chennai also saw an increase in petrol and diesel prices by 34 paise and 28 paise, respectively. With the latest revision, the price of petrol increased to Rs 101.71 per litre, while that of diesel reached Rs 94.43 per litre in Tamil Nadu’s capital.
The hike on July 10 was the 38th increase in the price of petrol since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
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, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Petrol has crossed the Rs 100-a-litre mark in Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Kerala, Bihar, Punjab, Ladakh, Sikkim, Puducherry and Delhi.
Diesel, the most used fuel in the country, is above that level in some places in Rajasthan, Odisha and Madhya Pradesh.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
