Fuel rates hit record, a litre of petrol now costs Rs 107.5 in Mumbai
In Delhi, petrol rates have been increased by 35 paise to Rs 101.5 per litre.
Fuel prices across the country were the highest on Thursday after a two-day pause, News18 reported.
In Delhi, petrol rates have been increased by 35 paise from Rs 101.19 to Rs 101.5 per litre. Diesel has become costlier by 15 paise from Rs 89.72 per litre to Rs 89.87 per litre, according to Indian Oil Corporation
In Mumbai, a litre of petrol now costs Rs 107.5, which is a 34 paise hike from the last price point. The cost of petrol in Mumbai is currently the highest among all metros. Diesel rates stood at Rs 97.45 per litre.
The price of petrol in Chennai was Rs 102.23, while diesel cost Rs 94.39. In Kolkata, diesel is priced at Rs 93.0 and petrol costs Rs 101.7.
The petrol price has crossed Rs 100 in parts of Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Ladakh, Bihar and Punjab, The Financial Express reported.
State-run oil marketing companies revise fuel rates to align domestic prices with the global crude rates.
This was the 40th hike in fuel prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision that they had observed during Assembly elections to four states and one Union Territory.
Opposition parties have severely criticised the Centre for the increase in fuel prices in recent months. On Wednesday, Congress workers protesting the fuel hike in Bhubaneswar tore down the posters of Prime Minister Narendra Modi at several petrol pumps. The Rashtriya Janata Dal has said that it will hold protests across Bihar on July 18 and 19.
Several factors influence fuel prices in the country, including crude oil, freight and processing charges, excise duty, commissions paid to fuel stations and Value Added Tax levied by state governments.
The Bharatiya Janata Party leaders have defended the rising fuel prices. On July 10, Madhya Pradesh minister and BJP leader Om Prakash Saklecha had justified the increase in fuel prices by suggesting that a person could feel pleasure only when there is pain.
In June, Madhya Pradesh Energy Minister Pradhuman Singh Tomar suggested people should cycle rather than use fuel-driven vehicles, as that would keep them healthy and reduce pollution.
Last month, former Union Minister for Petroleum and Natural Gas Dharmendra Pradhan acknowledged that the rising fuel prices were problematic, but claimed that the Centre could not bring the rates down because it was saving money for welfare schemes.
In the Cabinet reshuffle on July 7, Hardeep Singh Puri replaced Pradhan as the petroleum minister.