Petrol, diesel prices today: 7th hike in 7 days take petrol past ₹110 in Delhi

Petrol and diesel prices continue to surge across the country in the seventh hike in as many days today. The oil companies have revised the price of petrol by 35 paise per litre, while diesel remained stable at Monday's rates.

The latest hike has taken the price of petrol past the ₹100 mark in Delhi. Petrol price in Delhi today will cost ₹110.04 per litre. Petrol price in Mumbai has surged to ₹115.85 per litre. Petrol price in Kolkata has reached up to ₹110.49 for a litre and ₹106.66 per litre in Chennai. Petrol price in Bengaluru has also gone up to ₹113.93 per litre.

While petrol price continues to receive hikes, the diesel price has been spared from another hike this time. As of today, diesel price in Delhi remains at ₹98.07 a litre. In Mumbai, price of diesel is at ₹106.23 while in Kolkata, the price stands at ₹101.56 per litre. Down south in Chennai the price of diesel will cost ₹102.59 per litre while in Bengaluru, the price remains at ₹104.09 per litre.

The central and state government taxes contribute nearly 60% of the petrol retail price and 54% of the diesel retail rate. Currently, the Centre levies excise duties of ₹32.80 per litre on petrol and ₹31.80 on diesel. For instance, in Delhi, one needs to pay ₹58.21 in taxes to buy a litre of petrol. Similarly for diesel, a customer shells out as much as ₹46.17 for every litre of the fuel.

The spate of hikes, that has been going on for the past 17 months, has caused unprecedented hike in petrol and diesel prices to take them to an all-time high. While the price of petrol has gone up by more than ₹38 per litre during this period, the price of diesel has also seen a hike that is nearing ₹30 per litre.

Recent rises in crude oil or natural gas prices in global markets have contributed to the regular hikes seen in the domestic markets. However, despite the hike in global prices, taxes levied on fuel in India remains high and one of the major reasons behind costly fuel.