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

Petrol and diesel prices inched higher on May 14 after a day’s pause. On Friday, the auto fuel prices touched an all-time high, with petrol becoming costly by 29 paise and diesel by 34 paise per litre. Petrol prices have crossed the Rs 100-mark in some parts of Rajasthan, Madhya Pradesh and Maharashtra.

After today’s revision, a litre of petrol in Delhi will cost Rs 92.34 and diesel Rs 82.95. In Mumbai, a litre of petrol and diesel will cost Rs  98.65 and Rs 90.11 respectively.

In Sri Ganganagar, petrol costs Rs 103.27 a litre and diesel Rs 95.70, while in MP’s Rewa petrol is being retailed at Rs 102.60 and diesel at Rs 93.36. In Maharashtra’s Parbhani, petrol price has been hiked to Rs 100.90 per litre and diesel Rs 90.91.

Here are the latest petrol and diesel prices in top 10 cities:

In the last 10 days, petrol price has been raised by Rs 1.79 per litre and diesel by Rs 2.04 per litre. Fuel prices increased eight times since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision during assembly elections in states like West Bengal.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

For diesel, the central add excise duty up to Rs 31.83 and VAT to Rs 10.99. Besides, the price also includes a dealer commission of a minimum of Rs 2.6 per litre on petrol and Rs 2 on diesel. Any changes in fuel rates are implemented with effect from 6 am each day.