Petrol price crosses Rs 100 a litre in Mumbai

By: |
May 29, 2021 12:41 PM

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.

In 15 increases, petrol price has risen by Rs 3.54 per litre and diesel by Rs 4.16.

Petrol price on Saturday crossed the Rs 100-a-litre mark in Mumbai after the 15th increase in fuel prices this month.

Petrol price was increased by 26 paise per litre and diesel by 28 paise a litre, according to a price notification of state-owned fuel retailers.

The increase – 15th this month – took petrol and diesel prices to a fresh all-time high across the country.

The price of petrol, which had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the psychological barrier in Mumbai on Saturday.

Petrol now costs Rs 100.19 a litre in Mumbai and diesel comes for Rs 92.17 per litre.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.

In Delhi, the petrol price rose to Rs 93.94 a litre and diesel to Rs 84.89.

This is the 15th increase in prices 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.

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.

Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 104.94 per litre and Rs 97.79 a litre, respectively.

In 15 increases, petrol price has risen by Rs 3.54 per litre and diesel by Rs 4.16.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Gold Price Today, 18 June 2021, gains after falling over Rs 1,500 in previous session; silver rates gain
2Petrol and diesel price today 18 June 2021: Petrol costs above Rs 100 in Mumbai, Pune, Bengaluru, Hyderabad
3Quality issues affect Nafed’s onion procurement in Maharashtra