Petrol and diesel prices in India are increasing at an alarming rate. The trend followed on Sunday as well, with the prices of petrol and diesel in Delhi increasing by 24 paise and 27 paise per litre, respectively. Petrol and diesel prices were hiked by 29 paise and 34 paise per litre, respectively, on Friday.
With the price hike, one-litre petrol now costs Rs 92.58 while one-litre diesel is retailing at Rs 83.22 in Delhi. However, in many places across the country, the price of petrol has crossed the Rs 100 mark. These cities are Sriganganagar, Indore, Bhopal, Rewa, Anuppur.
The major reason behind expensive petrol in these cities is the increase in local taxes such as value-added tax (VAT) and freight charges. In India, Rajasthan and Madhya Pradesh impose the most state tax on petrol and diesel.
Meanwhile, petrol prices are nearing the Rs 100 mark in Mumbai as well. On Sunday, petrol is retailing at Rs 98.88 per litre while diesel is selling at Rs 90.40 in the financial capital of India.
In Chennai, petrol is priced at Rs 94.31 per litre and diesel is selling at Rs 88.07 per litre. The prices of petrol and diesel in Kolkata are Rs 92.67 and Rs 88.06 per litre, respectively.
Since May 4, this is the fifth increase in the prices of petrol and diesel. It is important to note that petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.
