Petrol, diesel prices hit record highs; check rates in top 10 cities

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Auto fuel prices rose for a second straight day on May 11 to hit record highs. Petrol price jumped by 27 paise, while diesel by 30 paise, as per the data available with state-owned fuel retailers.

After today’s revision, a litre of petrol will cost Rs 91.8 in Delhi and diesel Rs 82.36.

In Mumbai, petrol is being retailed at Rs 98.12 per litre and diesel at Rs 89.48.

In Kolkata and Chennai, petrol prices stood at Rs 91.92 and Rs 93.62 respectively, and diesel at Rs 85.2 and Rs 87.25.

This was the sixth increase in prices since May 4, when the state-owned oil firms ended an 18-hiatus in rate revision during assembly elections in states like West Bengal. The increase took petrol and diesel prices to their highest-ever level.

On May 10, petrol prices had crossed the Rs 100-mark in some places in Rajasthan and Madhya Pradesh.

Oil companies, which have in recent months resorted to an unexplained freeze in rate revision, had hit a pause button after cutting prices marginally on April 15. This coincided with electioneering hitting a peak to elect new governments in five states including West Bengal.

No sooner had voting ended, more oil companies indicated an impending increase in retail prices in view of firming trends in international oil markets.

They said prices have been on a continuous uptrend since April 27, the crude oil price is hovering near the USD 70-per-barrel mark.

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 and Rs 31.80 on diesel.