For a few months, India's petrol prices have risen. According to a price announcement from state-owned fuel merchants, petrol and diesel prices remained steady on June 21 after reaching fresh record highs the day before.
The impact of municipal taxes such as VAT and freight costs on fuel prices varies from state to state. As a result, petrol costs more than Rs 100 per litre in eight states and union territories.
On Sunday, oil marketing corporations (OMC) boosted fuel prices once more, with petrol reaching Rs 97 per litre in the national capital. On Sunday, petrol costs Rs 97.22 a litre in Delhi, up from Rs 96.93 on Saturday.
Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, and Telangana have the highest VAT rates on petrol and diesel in the country.
Diesel was priced at Rs 87.97 per litre in the national capital, up from Rs 87.69 on Saturday. Fuel prices in the four major cities remained constant on Saturday. Diesel prices rose in sync with those of petrol. Diesel was sold for Rs 95.44, Rs 92.58, and Rs 90.82 per litre in Mumbai, Chennai, and Kolkata, respectively.
Petrol prices in the other major metros of Mumbai, Chennai, and Kolkata were higher on Sunday, at Rs 103.36, Rs 98.40, and Rs 97.12 a litre, respectively, than on Saturday.
Oil firms adjust petrol and diesel prices on a daily basis depending on the average price of benchmark fuel in the worldwide market over the previous 15 days, as well as foreign exchange rates.
In recent weeks, international oil prices have risen in expectation of a recovery in demand following the deployment of vaccination programs in a number of nations.