Latest fuel prices in India: Petrol up by ₹10 after 14 revisions in 16 days

New Delhi: With the fourteenth revision in the fuel prices in sixteen days, petrol and diesel rates have gone up by 80 paise each on Wednesday.

With this, the total increase in fuel rates is now Rs 10 per litre.

Petrol in Delhi will now cost ₹ 105.41 per litre as against 104.61 yesterday, while diesel rates have gone up from ₹ 95.87 per litre to 96.677, according to a price notification of state fuel retailers.

In Mumbai, petrol will be retailed at ₹ 120.51 per litre, while diesel is priced at ₹ 104.77 per litre.

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday defended fuel price hike, comparing it with that of other countries, saying that India has merely seen a change of "only 5 per cent".

"Fuel prices hiked in India are 1/10th of the change of prices in other countries. Comparing gasoline (petrol) prices between April 2021 and March 2022, the prices in the United States of America (USA) have increased by 51 per cent, Canada by 52 per cent, Germany by 55 per cent, the United Kingdom (UK) by 55 per cent, France by 50 per cent, Spain 58 per cent but in India only 5 per cent," Mr Puri in Lok Sabha.

As fuel prices skyrocket and concerns grow over the running cost of petrol and diesel vehicles, the electric vehicles market has quietly started to build up. As fiscal 2021-22 came to a close, the green brigade — still small in numbers — seems to be coming of age, also charged by government subsidies.

Fuel rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.

This is the 14th increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.