Fuel prices hiked after a day's gap; petrol rate in Delhi crosses Rs 100-mark
Photo Credit: AFP

Petrol price crossed Rs 100-a-litre mark in Delhi after the rate was hiked yet again on Wednesday.

The price of petrol, depending on the area, has gone up by 31-39 paise, while diesel prices have gone up by 15-18 paise, as per the Indian Oil Corporation (IOC).

In Delhi, petrol hit an all-time high of Rs 100.21 a litre, while diesel is now priced at Rs 89.53 per litre.

Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges.

In Mumbai, where petrol price crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 106.25 per litre on Wednesday. Diesel price also increased in the city by 18 paisa per litre to reach Rs 97.09 a litre, the highest among metros.

The price of petrol and diesel in Chennai was Rs 101.06 and Rs 94.06 per litre respectively and Rs 100.23 and Rs 92.50 per litre in Kolkata.

The hike on Wednesday is the 36th 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.

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.

On Wednesday, Brent crude was up by 3 cents at $74.56 a barrel, after slumping more than 3% on Tuesday. US oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session.

(With inputs from Agencies)

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