Petrol, diesel hiked again creating new record highs; check rates in top cities

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Petrol and diesel prices increased on July 10 across the country after remaining stable for a day. The auto fuel prices have touched record high levels on Saturday, with petrol and diesel becoming costlier by 35 paise and 26 paise, respectively.

After today’s revision, a litre of petrol and diesel in the national capital is being sold at Rs 100.91 and Rs 89.88, respectively, according to Indian Oil Corporation, the country’s largest fuel retailer. On Wednesday petrol had crossed the Rs 100 mark in the city.

In Mumbai, a litre of petrol and diesel costs Rs 106.93 and Rs 97.46. Currently, fuel prices are highest in Mumbai among all metro cities.

Today, auto fuel has surpassed the Rs 100-mark in Jammu. In the past, other areas of the UT, including Srinagar, had already breached this barrier. Currently, petrol costs ₹100.21 in the city and diesel costs ₹90.44.

This is the 38^th  price hike since May 4 when fuel rates started increasing after the state elections. This is also, the 7th 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 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 with petrol at Rs 111.87 and diesel at Rs 102.87. Indore, Bhopal, Gwalior, Jaisalmer, Jaipur, Banswara, Ratnagiri, Parbhani and Aurangabad are also few cities selling auto fuel above Rs 100 mark.

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.