Petrol, diesel prices hiked again after a breather. Know latest rates

Petrol and diesel prices across India have been increased again on Thursday after a days pause on Wednesday. The oil marketing companies have increased a litre of petrol price by around 25-30 paise, while diesel price has become higher by 28-32 paise per litre.

A litre of petrol now costs ₹101.64 in Delhi, while the per litre price of diesel in the national capital now is ₹89.87. In Mumbai, a litre of petrol now retails at ₹107.71, while diesel is being sold at ₹97.52.

In Kolkata, a litre of petrol now retails at ₹102.17. Diesel price also witnessed a hike and is being sold at ₹92.97 per litre in Kolkata. In Chennai, petrol is available for ₹99.36 per litre, and diesel at ₹94.43 per litre.

This latest price hike comes on the back of increasing crude oil prices in the international market. Earlier this week on Tuesday, the petrol price was hiked for the first time in two months after July 17.

Earlier this year, during the May-July period, petrol and diesel prices were increased incessantly by the oil marketing companies. This resulted in the petrol price breaching rs 100 mark across the country for the first time ever. Diesel too breached the century mark in some places. Petrol price is still above ₹100 mark in various places across India.

Such a high rate of motor fuels are attributed to multiple factors. One of the significant among them is the high rate of tax imposed by central and state governments. Pricing components for petrol and diesel include excise duty, freight charges, VAT imposed by state governments and dealer commission.

The excise duty is imposed by the central government. The excise duty rate has been increased substantially in the last two years.