Fuel rates rise again; petrol priced at Rs 103.08 per litre in Mumbai

Fuel prices reached new highs on Friday after remaining unchanged on Thursday. Petrol and diesel rates were jacked up the state-backed oil marketing companies by 27 paise and 28 paise respectively on June 18.

After the recent hike, petrol costs Rs 96.93 per litre in Delhi whereas diesel sells for Rs 87.69 per litre in the national capital. One needs to shell out Rs 103.08 for a litre of petrol in Mumbai while diesel sells for Rs 95.14 per litre in India's financial capital.

Also read: Petrol, diesel prices unchanged today; check latest rates in Delhi, Mumbai, other cities

In Chennai, you need to pay Rs 98.14 for a litre of petrol while diesel costs Rs 92.31 per litre. Petrol costs Rs 96.84 per litre in Kolkata whereas diesel costs Rs 90.54 per litre.  

Petrol rates have surpassed the psychological Rs 100-mark in states and UTs like Andhra Pradesh, Bihar, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Odisha, Rajasthan, Tamil Nadu and Telangana so far.

Hyderabad and Bengaluru are the latest capital cities where petrol prices have crossed the Rs 100 per litre-mark, followed by Bhopal, Jaipur and Mumbai.

Also read: Another day, another hike: Petrol, diesel prices at all-time high, check out rates

Petrol costs Rs 108.08 per litre- the highest across India in Rajasthan's Sri Ganganagar district, which is located near the India-Pakistan border.

Oil marketing companies revise the petrol and diesel rates daily on the basis of local taxes such as VAT, freight charges, the average price of benchmark fuel in the global market in the preceding 15 days, and foreign exchange rates.

Rajasthan levies the highest VAT on fuel across the country, followed by Madhya Pradesh, Maharashtra, Telangana and Andhra Pradesh.

Global oil prices, on the other hand fell for the second consecutive day on Friday (June 18) as the US dollar surged due to the prospects of interest rate hikes in the US. Brent crude futures were down by 52 cents or 0.7 per cent at $72.56 per barrel whereas US West Texas Intermediate (WTI) crude futures were down 48 cents or 0.7 per cent at $70.56 per barrel, Reuters reported.

Edited by Mehak Agarwal

Also read: Oil prices fall for second straight day on surging US dollar, Brent crude reaches $72.56 per barrel