Petrol price crosses Rs 107-per-litre mark in Mumbai; diesel rates drop
Photo Credit: AFP

Petrol prices were hiked again on Monday whereas diesel rates were reduced after two months. Petrol prices were hiked by 28-30 paise, while diesel prices were reduced by 14-16 paise.

After the latest revision, petrol now costs at Rs 101.91 in Delhi, whereas diesel is retailing at Rs 89.72.

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

Petrol price on Monday crossed the Rs 107-per-litre mark in Mumbai after the fuel rate was hiked yet again.

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 107.20 per litre on Monday. While diesel price has declined to Rs 97.29 per litre.

The price of petrol and diesel in Chennai was Rs 101.92 and Rs 94.24 per litre respectively and Rs 101.35 and Rs 92.81 per litre in Kolkata.

The hike on Saturday is the 39th 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. In 39 hikes, the price of petrol has risen by Rs 10.81 per litre. During this period, diesel rates have soared by Rs 9.15 a litre in 36 instances of price rise.

BJP Rajya Sabha MP from Uttar Pradesh Hardeep Singh Puri on Thursday took charge as the Union Minister of Petroleum and Natural Gas and said his focus will be on increasing domestic production of crude oil and natural gas.

"Our focus will be on increasing domestic production of crude oil and natural gas. In line with Prime Minister Narendra Modl's vision of an Aatmanirbhar Bharat, we will work towards the development of a natural gas-based economy in the country," said the newly appointed Minister.

(With inputs from Agencies)

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