A day after the hike, oil marketing companies (OMCs) on Wednesday kept petrol and diesel prices unchanged across the country.
Accordingly, the price of petrol continues to remain at Tuesday's level of Rs 93.44 a litre and diesel Rs 84.32 per litre in Delhi.
In Mumbai, petrol is now being sold at Rs 99.71 a litre just one increase short of crossing another milestone of Rs 100. Diesel in the country’s financial capital costs Rs 91.57 per litre.
In Chennai, petrol is priced at Rs 95.06 per litre while the price of diesel is Rs 89.11 per litre. The price of petrol in Kolkata is Rs 93.49 per litre while diesel is sold at Rs 87.16 per litre.
Rates Have already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, the price in Mumbai too was inching towards that level.
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.
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.
This is the 13th increase in prices since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
(With inputs from PTI)