According to a price statement from state-owned fuel companies, petrol prices were increased by 31 to 39 paise on July 5, bringing rates across the country to an all-time high, although diesel rates remained unchanged.
In Mumbai, Chennai, Bengaluru, Hyderabad, and Pune, the price of petrol has surpassed Rs 100 per litre. Delhi in India where the rupee has not yet reached the 100-rupee milestone. In 14 states and UTs, petrol now costs more over Rs100.
Kolkata, where the hike on July 5 increased the price of petrol by 39 paise to Rs 99.88 per litre, up from Rs 99.49 per litre the day before. In the city, the price of diesel remained unchanged at Rs 92.31 a litre. Fuel stores in Kolkata will close for 30 minutes on July 7 to protest rising petrol and diesel prices, according to a trade association official.
According to Prasenjit Sen, joint secretary of the West Bengal Petroleum Dealers' Association, the significant increase in prices has resulted in a major decline in fuel sales in the state.
Petrol prices in Mumbai reached an all-time high of Rs 105.95 per litre, up 33 paise from the previous day's price of Rs 105.62 per litre. In the financial capital, diesel remained constant at Rs 96.95 per litre.
Petrol prices in Chennai have also increased by 31 paise. In Tamil Nadu's capital, the price of petrol has risen to Rs 100.78 per litre, while the price of diesel has stayed unchanged at Rs 93.94 per litre.
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.