The prices of petrol and diesel were on Sunday increased for the 11th time in 13 days, PTI reported.
Petrol prices in Delhi have been hiked by 80 paise – from Rs 102.61 to Rs 103.41. Diesel rates have also gone up to Rs 94.67 from Rs 93.87 a litre.
Mumbai has the highest fuel prices among metropolitan cities as the rates of petrol and diesel on Sunday increased by 84 paise and 85 paise, respectively, ANI reported. A litre of petrol in Mumbai now costs Rs 118.41, while a litre of diesel now costs Rs 102.62.
A litre of petrol in Kolkata cost Rs 113.03 and diesel Rs 97.82 after the prices were revised by 80 paise. In Chennai, petrol cost Rs 108.96 and diesel cost Rs 99.04 following a 75-paise hike.
Fuel prices vary across the country depending on local taxation rates.
Ahead of the Assembly polls in five states, fuel rates had been on a freeze since November 4. However, during this period, the cost of crude oil surged by nearly $30 per barrel. Oil firms had not revised fuel prices for 137 days despite the substantial increase in global oil prices.
The revision in fuel prices began on March 22, twelve days after the Assembly election results.
On March 8, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri had denied that oil price hikes had been stalled due to Assembly elections in the states of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa.
While fuel prices in India are regulated by oil marketing companies, it has often been observed that the rates remain unchanged during elections and are hiked after the result day.
For 18 days in March and April last year, the prices of petrol and diesel remained unchanged as four states and a Union Territory went to polls. However, after the results were announced on May 2, the prices rose steadily to hit record levels.