Petrol, diesel prices remain static on July 16; check rates in top cities
Petrol and diesel prices across the country rose by 35 and 15 paise on Thursday, pushing rates to a new high across the country
Petrol and diesel prices remained unchanged on Friday after yesterday’s rise. Auto fuel prices hit record highs after Thursday’s revision, with petrol becoming costlier by 34 paise and diesel by 15 paise across the country, according to Indian Oil Corporation, the country’s largest fuel retailer.
Today, a litre of petrol in Delhi is being retailed at Rs 101.54 and diesel at Rs 89.87. In Mumbai, a litre of petrol and diesel will cost Rs 107.54 and Rs 97.45 respectively. Currently, fuel prices are highest in Mumbai among all metro cities.
Yesterday’s rise added up to Rs 10.85 for petrol and Rs 10.80 diesel. It was the 40th price hike in petrol since May 4 when fuel rates started increasing after the elections. This was also the 8th hike of the month. The prices were hiked 16 times in June.
Here is the list of fuel prices in top-10 cities
Fuel price above Rs 100 mark
Petrol prices have already crossed the Rs 100-mark in more than 18 states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Jammu & Kashmir, Odisha, Manipur, Ladakh, Bihar, Punjab and others. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country. Petrol and diesel prices changes every day at 6 am on the basis of international crude prices and foreign exchange rates.
Prices differ due to differences in taxes
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.