New Delhi, May 14: Maintaining its rising trend, fuel prices increased on Friday, May 14, after being stagnant for a day on Thursday. The price of petrol and diesel continued to see an upward trend as state-owned fuel retailers hiked fuel rates across Delhi, Mumbai, Chennai, Kolkata and other cities across the country. Petrol prices in some states including Rajasthan, Madhya Pradesh breached the Rs 100 per litre mark on Friday while premium petrol has been hovering above that level for some time now. World May See Peak of Petrol, Diesel Demand by 2035 but Not in India, Says Oil Ministry Official.

In Delhi, petrol now costs Rs 92.34 per litre and diesel is priced at Rs 82.95 up from the earlier level. In Mumbai, petrol now costs Rs 98.65 per litre and diesel is priced at Rs 90.11 per litre. The petrol price breached Rs 100 mark in Madhya Pradesh's Bhopal and Rajasthan's Sri Ganganagar. In Bhopal, the petrol and diesel prices per litre stood at Rs 100.38 and Rs 91.31. while it was  Rs 103.27 & Rs 95.70 in Rajasthan's Sri Ganganagar respectively.

In the last week, fuel prices were increased on a daily basis, raising concerns among the common man. With global crude prices at around $69 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up.  The fuel rates have been increased across India and differ from state to state depending on the incidence of value-added tax. This means fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges. Rajasthan levies the highest VAT on petrol in the country, followed by Madhya Pradesh.

(The above story first appeared on LatestLY on May 14, 2021 11:12 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website