Petrol in Mumbai costs almost 2x more than New York

Petrol prices in Mumbai at over Rs 100 per litre is almost twice as much as the price in New York.

Petrol touched Rs 100.72 per litre in Mumbai today, according to Indian Oil Corporation's data. The equivalent price in New York is $0.79 (approximately Rs 57), reports Bloomberg, as per the figures from the New York State Energy Research and Development Authority.

Meanwhile, with an increase of 26 paise, petrol prices stood at Rs 94.49 per litre in the national capital, while diesel stood at Rs 85.38 per litre. One needs to shell out Rs 94.50 for a litre of petrol in Kolkata, whereas a litre of diesel costs Rs 88.23 in the city.

In Chennai, petrol and diesel rates were hiked by 23 paise and reached Rs 95.99 per litre and Rs 90.12 per litre, respectively. Petrol is the costliest in Rajasthan, followed by Madhya Pradesh and Maharashtra.

Petrol has surged to Rs 105.53 per litre in Rajasthan's Sriganganagar. In Hanumangarh, residents need to pay Rs 104.88 for a litre of petrol.

Fuel prices in India have soared in the past year as the government has repeatedly raised taxes to provide a cushion for worsening public finances.

Levies make up nearly 60 per cent of the retail price. Taxes on petrol and diesel have increased almost six-fold since 2013. The sale of petrol and diesel in May still hasn't reached the pre-pandemic level and is nearly a third of that in 2019 as large parts of the nation are under local lockdowns to battle the coronavirus second wave.

Also read: Fuel rates hiked again; petrol now costs Rs 100.47 per litre in Mumbai