Seven price hikes in 11 days in July. Know petrol, diesel rates in your city
Petrol and diesel prices have witnessed seven hikes within 11 days in July. This comes after a total of 16 hikes in May and June each. Motor fuels are costing all-time high across the country. Both the motor fuels have breached ₹100 for a litre in many places.
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(Also Read: India's fuel demand rebounds in June)
The latest hike in petrol and diesel prices was announced on Saturday, July 10. Saturday's price hike was the 38th increase in motor fuel prices since May 4.
This latest price hike took per litre petrol and diesel prices to ₹100.95 and ₹89.92 respectively in the national capital.
Mumbai is selling motor fuels at the highest rates among the metro cities. A litre of petrol is selling at ₹106.97 in the city, while a litre of diesel costs ₹97.5 in India's business capital. Mumbai was the first metro in the country to breach the century mark for petrol on May 29.
Chennai retails a litre of petrol at ₹101.71 and diesel at ₹94.43 per litre. A litre of petrol and diesel price in Kolkata is ₹101.05 and ₹93.01 respectively.
With the past few price hikes, petrol prices have breached the century mark in 18 states and union territories. These include Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Ladakh, Tamil Nadu, Punjab, Sikkim, West Bengal and Nagaland. Jammu & Kashmir, Bihar, Delhi and Kerala.
Such an incessant price hike for motor fuels are increasing creating pressure on motorists and non-motorists as well. While motorists are paying much more extra for their fuel bills, non-motorists are impacted by increased consumable and non-consumable prices, due to the increased transportation cost.
The pricing components for petrol and diesel include excise duty, freight charges, VAT, dealer commission etc. central and state government taxes contribute nearly 60% of petrol prices and 54% for diesel retail price.