Petrol and diesel prices rose for the second day in a row on Sunday. On June 27, fuel prices were raised by 35 paisa for petrol and 25 paisa for diesel. This was the 31st increase in petrol and diesel prices since May 4, when the price revision resumed after an 18-day break due to state assembly elections.
With the most recent price increase on Sunday, petrol and diesel in Mumbai now cost Rs 104.56 per litre for petrol and Rs 96.42 for diesel. Petrol costs 98.46 rupees per litre in Delhi, while diesel costs 88.90 rupees. The price of a litre of petrol and diesel in Chennai is Rs 99.49 and Rs 93.46 respectively. In Kolkata, petrol costs 98.30 rupees per litre and diesel costs 91.75 rupees per litre.
With the continuous rise in petrol and diesel prices, several state capitals in India have already surpassed the 100 mark. With the latest price increase, several other state capitals have also crept closer to the century mark. On Saturday, Patna and Thiruvananthapuram joined the list of cities where petrol prices reached a century.
Chennai is now on the verge of joining the list. Kolkata is also on the verge of joining the list.
In Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Ladakh, Bihar, Kerala, and Tamil Nadu, a litre of petrol costs more than 100 rupees.
The retail price of oil is made up of numerous elements. Excise duty, freight costs, state government VAT, and dealer commission are examples. Taxes levied by the federal and state governments account for 60% of gasoline costs and 54% of diesel pricing. Because of the different rates of VAT, the price of gasoline and diesel varies from state to state.
To provide assistance to consumers, there have been calls for the excise charge on fuel to be reduced. However, the plan was rejected by the federal government.