Fuel prices hiked for 25th time since May 4; petrol costs Rs 102.58 in Mumbai

After the latest hike in fuel rates, petrol became costlier by 28 paise per litre in Mumbai and Kolkata respectively. Mumbaikars need to pay Rs 102.58 for a litre of petrol whereas in Kolkata, petrol sells for Rs 96.34 per litre.

Petrol prices were hiked by 29 paise and 26 paise in Chennai. Petrol costs Rs 96.41 per litre in Delhi, whereas in Chennai, one needs to pay Rs 97.69 for a litre of petrol.

Diesel prices were also jacked up across metros. Diesel is selling for Rs 87.28 per litre in Delhi while in Mumbai, one needs to pay Rs 94.70 for a litre of diesel. Diesel costs Rs 90.12 per litre in Kolkata and Rs 91.92 per litre in Chennai.

Diesel reached Rs 100.37 per litre in Rajasthan's Sri Ganganagar and is inching closer to the Rs 100 per litre mark in Hanumangarh after the recent hike in fuel prices.

After the 25th hike in fuel prices since May 4, petrol prices reached Rs 107.53 per litre in Sri Ganganagar and Rs 106.82 per litre in Hanumangarh.

State-backed oil marketing companies (OMCs) decide fuel prices daily by factoring in state taxes, freight charges, international oil prices and foreign exchange rates.

Petrol prices have crossed the Rs 100 per litre mark in states and UTs like Andhra Pradesh, Bihar, Karnataka, Manipur and Telangana. Rajasthan levies the highest taxes on fuel, followed by Madhya Pradesh and Maharashtra.

Global oil prices held near multi-year highs on Monday due to a recovery in the demand outlook backed by the lifting of travel curbs due to increased COVID-19 vaccinations.

Brent crude went up by 14 cents or 0.2 per cent at $72.83 per barrel. US West Texas Intermediate (WTI) also jumped by 14 cents or 0.2 per cent at $71.05 per barrel, Reuters reported.

Edited by Mehak Agarwal

Also read: Fuel prices hiked again; Diesel past Rs 100 in Rajasthan, first time ever in India

Also read: Oil prices hold near multi-year highs amid demand recovery; Brent reaches $72.83 per barrel