New Delhi: After several months, petrol and diesel prices witnessed the steepest single-day hike on the Republic Day.  Following the 35 paise hike, petrol is available at a record high of Rs 86.05 a litre in Delhi and Rs 92.62 in Mumbai. Diesel rates in Delhi and Mumbai climbed to 76.23 and Rs 83.03 per litre respectively.Also Read - Aadhaar Card Needed To Get Subsidy of Rs 25 Per Litre On Fuel In Jharkhand From Jan 26 | Details Here

Fuel prices vary from state to state depending on local sales tax or VAT. The petrol and diesel prices have increased nine times in January with the two auto fuels increasing by Rs 2.34 and Rs 2.36 per litre respectively. Also Read - Exchequer Paid Rs 4.55 Lakh Crore As Central Taxes On Petrol, Diesel In 2020-21

In Chennai, petrol was retailing at Rs 89 per litre, while in Kolkata, it was within touching distance of Rs 88 a litre. Diesel, on the other hand, was Rs 81.5 in Chennai and Rs 80 in Kolkata. Also Read - Petrol, Diesel Prices: Check Latest Fuel Rates In Your City

Speaking to reporters, Oil Minister Dharmendra Pradhan had blamed Saudi oil output cut for the surge in oil prices but remained non-committal on tax cuts.

State-owned fuel retailers — Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — had on January 6, resumed daily price revision after nearly a month-long hiatus. Since then, rates have gone up by Rs 2.34 a litre on petrol and Rs 2.36 in case of diesel.

Notably, petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.

(With agency inputs)