Fuel Price Hike: Petrol Breaches Rs 100 Per Litre Mark In 14 States, UTs

Petrol and diesel rates were hiked by 35 paise and 18 paise per litre on Sunday

Updated on: 4 July 2021 2:29 pm

As the diesel price was hiked for the 33rd time in two months on Sunday, the rate of the fuel breached the Rs 100 per litre mark in Madhya Pradesh.

Meanwhile, the hike in petrol price resulted in Sikkim becoming the latest state where the price of the fuel soared past Rs 100 per litre. The other states where the petrol price is higher than Rs 100 per litre are-- Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Kerala, Bihar, Punjab and Ladakh.

Petrol and diesel rates were hiked by 35 paise and 18 paise per litre on Sunday, according to a price notification from state-owned fuel retailers.

While fuel prices are hiked by the Centre, different states have different incidence of local taxes such as VAT and freight charges, which make the prices vary across the country.

In Delhi, petrol now comes for Rs 99.51 a litre and diesel is priced at Rs 89.36 per litre.

Meanwhile, petrol has crossed Rs 100 a litre mark in metro cities of Mumbai, Chennai, Bengaluru, Hyderabad and Pune and it is over Rs 99 in other two cities of Delhi and Kolkata. Petrol in Gangtok is now priced at Rs 100.15 a litre and diesel comes for Rs 91.55.

Rates of diesel, the most used fuel in the country, have crossed the Rs 100-a-litre mark in Sri Ganganagar and Hanumangarh in Rajasthan as well in some places in Odisha. And on Sunday, Rewa, Shahdol and Balaghat in Madhya Pradesh saw those levels.

The hike on Sunday is the 34th increase in price of petrol and 33rd in case of diesel 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.
In 34 hikes, the price of petrol has risen by Rs 9.11 per litre. Diesel rates have soared by Rs 8.63 a litre in 33 instances of price increase.

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.

International oil prices have climbed in recent weeks on optimism of a quick recovery in fuel demand. Brent crude touched the USD 75 per barrel mark, the first time since April 2019.
(With PTI inputs)