Fuel prices at new record highs; Petrol nears Rs 100/litre in Jaipur and Mumbai

Petrol and diesel price today: After being steady for a day, prices of petrol and diesel were hiked again on Tuesday, May 25, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 23 paise while that of diesel too inched up 25 paise.

Following the latest price revision, petrol in Delhi is now retailing at Rs 93.44 a litre while diesel is selling at Rs 84.32. In the financial capital Mumbai, petrol price neared the Rs 100-mark and now stands at Rs 99.71 while diesel costs Rs 91.57, data available on Indian Oil Corporation’s website showed.

So far in this month, the auto fuel prices have been hiked 13 times after oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in key states. During this period, petrol price has increased by Rs 3.04 per litre and diesel has climbed by Rs 3.59 in New Delhi.

With the recent hikes this month, petrol rates have already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra. Earlier this month, Bhopal became the first state capital to have petrol hit the three-figure mark and now Jaipur and Mumbai are placed on the brink of touching the historic milestone.

In India, the fuel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.