Fuel prices were hiked for the second straight day on Wednesday, pushing the rate of petrol above Rs 100 in Lucknow, reported The Indian Express.
Petrol was priced at Rs 100.01 in Lucknow, the first time it touched the three figure mark.
In Delhi, petrol rate increased by 30 paise from Rs 102.64 per litre to Rs 102.94 a litre. Diesel rate rose by 35 paise from Rs 91.07 per litre to Rs 91.42 a litre.
Petrol price climbed to Rs 108.96 from Rs 108.67 in Mumbai. Diesel rate increased to Rs 99.17 from Rs 98.80 in the city. The cost of petrol is the highest in Mumbai among all metropolitan cities.
In Chennai, petrol was priced at Rs 100.49 and diesel cost Rs 95.93 per litre. In Kolkata, the rate of petrol was Rs 103.65 and that of diesel was Rs 94.53 a litre.
Fuel prices vary from states to states due to different value-added tax and freight charges. Oil companies revise the fuel prices on the basis of the cost of benchmark fuel in the international market and foreign exchange rates.
On Tuesday, the price of crude oil increased for the fourth consecutive day, hitting a three-year high of $83.13, or Rs 6,202.89, reported Reuters. The hike came amid signs of tightness in the supply of crude oil, natural gas and coal.
On Monday, the Organization of the Petroleum Exporting Countries and its partners had decided to stick to their planned output rather than boost it.
Meanwhile, Union Finance Minister Nirmala Sitharaman pointed out that the price of fuel in India depends on international oil rates and said that states and the Centre need to work together, reported PTI.
“Duty and tax on petrol and diesel are not levied only by the Centre,” she said at a press conference at the Chhattisgarh Bharatiya Janata Party office. “If we use 100 litres [of petrol or diesel], we have to import 99 litres out of it from abroad. According to oil rates abroad, prices [of fuel products] are fixed here.”
Sitharaman also that the hike in fuel prices have definitely increased the financial burden on citizens.
Rs 15 hike in LPG price
The price of liquified petroleum gas, or LPG, was increased by Rs 15 per cylinder in line with a rise in international oil rates, reported PTI. Oil company officials said that the rates of both subsidised and non-subsidised LPG cylinders were hiked.
The LPG cylinder price was last increased in September.
A 14.2 kg non-subsidised cylinder now costs Rs 899.50 per cylinder in Delhi and Mumbai. It will cost Rs 926 in Kolkata.
The price of a 5-kg cylinder also increased to Rs 502, ANI reported.