After remaining steady for a day, fuel prices increased again on Sunday.
After remaining steady for a day, fuel prices increased again on Sunday.

Fresh hike in fuel prices pushes petrol to 97.22 per litre in Delhi; Patna rates near 100-mark

  • Petrol rates in the nation are revised on a daily basis. The price of fuel includes excise duty, value added tax (VAT) and dealer commission. VAT varies from state to state.
By hindustantimes.com | Written by Susmita Pakrasi, Hindustan Times, New Delhi
UPDATED ON JUN 20, 2021 09:19 AM IST

Petrol price hike: Fuel price hits 103.36 per litre in Mumbai, reaches historic high

After remaining steady for a day, fuel prices saw a hike on Sunday. In Delhi, the prices of petrol and diesel per litre soared to 97.22 and 87.97 respectively.

In Bhopal, the price of petrol touched 105.43/litre while that of diesel rose to 96.65/litre. In Mumbai, the fresh hike in petrol price took it to 103.36/litre while the price of diesel touched 95.44/litre. In Patna, the prices of petrol and diesel per litre is 99.28/litres and 93.30/litre respectively.

Petrol rates in the nation are revised on a daily basis. The price of fuel includes excise duty, value added tax (VAT) and dealer commission. VAT varies from state to state.

The state-run oil marketing companies — Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum — align the rates of domestic fuel with that of the global crude oil prices by taking into account any changes in foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

After adding excise duty, dealer commission and VAT, the retail selling price of petrol gets nearly doubled. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on. When international crude oil prices gain, prices in India move higher.

The fuel prices have been rising rapidly in the nation due to rising international crude oil prices. Experts are worried about the prolonged round of fuel price hikes as it has triggered a sharp rise in inflation.

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