Fuel prices rose to fresh highs on Monday as state oil companies hiked petrol and diesel prices by 25 paise per litre each. Petrol sold for record Rs 84.95 a litre in Delhi and Rs 91.56 in Mumbai on Monday, while diesel cost Rs 75.13 per litre in Delhi and Rs 81.87 in Mumbai.
While in Mumbai, diesel prices are at an all-time high, the same in Delhi are highest since last July. Similarly, other metro cities too have seen an increase in fuel prices. In Chennai, petrol prices have touched Rs 87.63 per litre, while diesel is now priced at Rs 80.43 per litre. In Kolkata petrol is now priced at Rs 86.39 per litre, while diesel price has reached Rs 78.72 per litre.
Right now, India's oil marketing companies such as Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are revising domestic fuel prices on a daily basis. Changes in fuel prices are implemented at 6 am every day.
With international oil prices rebounding from the lows of April, retail rates in India too were revised. Since May 2020, petrol price has risen by Rs 15.04 per litre and diesel by Rs 12.59 a litre, price notifications of oil companies showed.
Excise duty totals Rs 32.98 per litre in petrol and Rs 31.83 in diesel.