After four days of back to back surges, the petrol price is now at a record high in Delhi and Mumbai. A litre of petrol costs Rs 91.27 in the national capital. In Mumbai, petrol is retailing at Rs 97.61 per litre. Petrol price has risen to ₹102 per litre in some parts of Rajasthan and Madhya Pradesh. However, state-run fuel retails have kept the petrol and diesel prices unchanged on Saturday.
All you need to know about the the recent price hike in petrol and diesel
1) On Friday, petrol sold for Rs 102.15 a litre in Sri Ganganagar in Rajasthan and Rs 101.86 in Anuppur in Madhya Pradesh. This was the second time that petrol price soared past 100-mark in India since February. It must be noted that Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.
2) Petrol and diesel prices depend on international crude prices, foreign exchange rates and demand for fuel. Brent crude futures is trading near $70 a barrel in the international market.