Petrol and diesel prices soared to new highs across the country on Tuesday after rates were raised for the second day in a row. Last week, fuel prices were raised for four days in a row.
Mumbai has the highest petrol price among major cities, at Rs 98.12 per litre, up 26 paise from yesterday. Diesel costs Rs 89.48 per litre in the country's financial hub, up 31 paise. The price of a litre of petrol in Mumbai is approaching Rs 100.
Oil firms, which had hit a pause button after reducing prices slightly on April 15, had resorted to an unexplained rate revision freeze in recent months. This occurred at a time when campaigning for new governments in five states, including West Bengal, was at its height.
On Tuesday morning, the price of crude oil dropped. According to Reuters, US WTI crude futures for June were trading at $64.52 per barrel, while Brent crude futures were trading at $67.87 per barrel.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, and Pune
Petrol prices - Rs 93.62 per litre
Diesel prices - Rs 87.25 per litre
Petrol prices - Rs 91.92 per litre
Diesel prices - Rs 85.20 per litre
Petrol prices - Rs 97.76 per litre;
Diesel prices - Rs 87.77 per litre
Petrol prices - Rs 94.85 per litre;
Diesel prices - Rs 87.31 per litre
Petrol prices - Rs 95.41 per litre
Diesel prices - Rs 89.79 per litre
Central and state taxes account for 60% of the retail sale price of gasoline and about 54% of the retail selling price of diesel. Petrol has an excise duty of Rs 32.90 per litre, while diesel has an excise duty of Rs 31.80.