Gasoline crosses Rs 100 in Tamil Nadu after a sharp increase in fuel prices
The price of gasoline climbed beyond the 100 rupees per liter mark in Tamil Nadu after fuel prices rose again on Saturday. Gasoline and diesel prices were hiked by 35 paise per liter each, the highest in recent times, according to a price notification from state-owned fuel retailers.
The hike has taken rates across the country to new highs, with Tamil Nadu becoming the latest state to see gasoline cross the Rs 100 per liter mark.
In Delhi, gasoline hit a record high of Rs 98.11 per liter, while diesel is now priced at Rs 88.65 per liter.
Fuel prices differ from state to state depending on the incidence of local taxes such as value added tax (VAT) and freight charges.
While gasoline had crossed the 100 rupees per liter mark in Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha and Ladakh, several Tamil Nadu towns, including Salem, Vellore and Cuddalore, have seen this level after the sharp rise in prices.
In Chennai, gasoline is priced at Rs 99.19 per liter while diesel costs Rs 93.23 per liter.
Among metropolitan cities, gasoline is already above Rs 100 in Mumbai, Hyderabad and Bangalore.
In Mumbai, gasoline now costs Rs 104.22 per liter and diesel at Rs 96.16.
The rate of diesel, the most used fuel in the country, had crossed the 100 Rs per liter mark in Sri Ganganagar and Hanumangarh in Rajasthan as well as in a few places in Odisha.
Saturday’s hike is the 30th price hike since May 4, when state-owned oil companies ended an 18-day hiatus in rate reviews they saw in parliamentary elections in states like the West Bengal.
In 30 increases, the price of gasoline increased by Rs 7.71 per liter and that of diesel by Rs 8.12 per liter.
Oil companies revise gasoline and diesel prices on a daily basis based on the average benchmark fuel price on the international market over the previous 15 days and exchange rates.
Oil prices soared on optimism of a rapid recovery in fuel demand. Brent crude broke the $ 75 per barrel mark, the first time since April 2019.