(NDTV)
Fuel prices were increased again on Tuesday for the seventh time in the last eight days. In Delhi, petrol rates were hiked by 80 paise a litre to cross the ₹ 100 mark and diesel by 70 paise a litre, according to a price notification of state fuel retailers. A litre of petrol in the national capital will now cost ₹ 100.21 as against ₹ 99.41 previously, while diesel will be sold at ₹ 91.47 from ₹ 90.77 per litre earlier.
In Mumbai, petrol will be retailed at ₹ 115.04 per litre, while diesel will be sold at ₹ 99.25 per litre. Among the metro cities, fuel rates are still the highest in Mumbai. The prices vary across the states due to value-added tax (VAT). Fuel rates were held steady for over four months despite the spike in crude oil prices. The rate revision had ended on March 22. Moody’s Investors Services last week stated that state retailers together lost around $2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period. The rates were kept on hold amid the assembly elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
