New Delhi: It seems that fuel prices are not going to pause any soon adding to the woes of common man. Afer a two day pause, fuel prices were hiked on Friday as petrol price witnessed up to 27 paise per litre and diesel 28 paise rise across metros, as per the Indian Oil Corporation (IOC) data.
In Delhi, petrol will cost Rs94.76 a litre and diesel will cost Rs 85.66 a litre. In Mumbai, the petrol price nears Rs 101 mark as it rose to Rs 100.98 per litre on Friday while the cost of diesel at Rs 92.99 a litre.
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While petrol and diesel prices in Chennai stood at Rs 96.23 and Rs 90.38 per litre respectively. In Kolkata, prices remained at Rs94.76 for petrol & Rs 88.51 a litre for diesel. The price of petrol, which had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the psychological barrier in Mumbai on May 29.
Latest Fuel Rates (June 4)
Mumbai
Petrol price: Rs 94.76 per litre
Diesel price: Rs 85.66 per litre
Kolkata
Petrol price: Rs 94.76 per litre
Diesel price: Rs 88.51 per litre
Mumbai
Petrol price: Rs 100.98 per litre
Diesel price: Rs 92.99 per litre
Chennai
Petrol price: Rs 96.23 per litre
Diesel price: Rs 90.38 per litre
It is to be noted that petrol and diesel prices are fixed on the basis of freight charges, local taxes, and VAT. Petrol and diesel prices vary from state to state due to taxations imposed by central and state governments.
The central and state taxes comprise 60 per cent of the retail selling price of petrol while more than 54 per cent for diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
Meanwhile, Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year, as per the Bloomberg report.