After Oil Marketing Companies announced another hike in the petrol and diesel prices by up to 28 paise on Monday, petrol is now selling at INR 101.52 a litre and diesel at INR 93.58 per litre in Mumbai. On the other hand, petrol was selling at INR 95.31 a litre and diesel at INR 86.22 in Delhi.
This hike is the 21st hike since May 4, 2021 when the Oil Marketing Companies started increasing the fuel prices after an pause of 18 days. The continued rise in fuel prices is behind strengthening crude oil prices as demand in the global economy is likely to revive and the oil glut is declining.
Mumbai became the first metro city to cross the 100-litre mark including other states like Rajasthan, Madhya Pradesh and Andhra Pradesh. Whereas, Rajasthan levies the highest VAT on petrol and diesel, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.