Fuel Prices: Petrol, Diesel Rates Touch Record High After Today's Hike

After a day of pause, petrol and diesel prices were raised again today, reaching new highs in India. According to a pricing notification from oil marketing companies, petrol and diesel rates in Delhi have been hiked by 19 paise per litre each (OMCs).

In Delhi, petrol costs 95.56 rupees a litre, while diesel costs 86.47 rupees. Petrol costs 101.76 per litre in Mumbai, while diesel costs 93.85 per litre. Mumbai became India's first city where gasoline was sold for more than $100 a litre.

The increase on the day is the 22nd since May 4, when state-owned oil companies resumed rate revisions after an 18-day hiatus caused by assembly elections in some states.

The impact of municipal taxes such as VAT and freight costs on fuel prices varies from state to state. Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, and Telangana have the highest VAT rates on petrol and diesel in the country.