After hitting a century in all metros, petrol and diesel prices rose for the second day in a row.

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By: Priyanka Sikdar

Last Update: 2021-07-08 11:44:15 IST

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On Thursday, fuel prices were raised for the second day in a row after breaking the $100 threshold in all major areas. According to price notifications from oil retailers, petrol increased by 35 paise in the national capital this month, while diesel increased by nine paise.

After hitting a century in all metros, petrol and diesel prices rose for the second day in a row.

On Thursday, fuel prices were raised for the second day in a row after breaking the $100 threshold in all major areas.

According to price notifications from oil retailers, petrol increased by 35 paise in the national capital this month, while diesel increased by nine paise.

In Delhi, the cost of petrol has been revised to 100.56 per liter, while the cost of diesel has been revised to 89.62 per liter. In Mumbai, petrol costs 106.59 rupees per liter, while diesel costs 97.18 rupees per liter.

The national capital had become the last of the metro areas to witness car fuel prices rise above $100 per liter on Wednesday. So far, it has crossed the psychological threshold in at least ten state capitals.

In May, Bhopal became the first city in India to surpass the Rs 100 mark in petrol costs. Jaipur, Mumbai, Hyderabad, and Bengaluru were the next cities on the list. In the last week of June, Patna and Thiruvananthapuram witnessed fuel retailing above Rs 100, while Chennai and Bhubaneshwar entered the list in the first week of July. On Wednesday, petrol prices in Kolkata surpassed Rs 100 per liter. Local levies such as value-added tax (VAT) and freight charges affect fuel prices, which vary from state to state.

Taxes account for up to 55 percent of the retail selling price of petrol in Delhi (the central government collects 32.90 per liter excise duty, and the state government collects 22.80 VAT).

The increase on Thursday was the 38th since 4 May, when oil companies raised prices following an 18-day break due to assembly elections in five states and a UT.

Since then, gasoline prices have climbed by 10.16 cents per liter, while the price of diesel has grown by 8.83 cents per liter.

India relies on imports for 85 percent of its oil needs. Therefore the rise in domestic costs is attributed to international Brent crude rates.

 

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