Petrol, diesel prices hold steady on June 3; check rates in top cities

Petrol and diesel prices remained unchanged on June 3 for the second straight day. The auto fuel prices had touched a new all-time high on Tuesday, with petrol becoming costly by 27 paise and diesel by 23 paise per litre.

Petrol prices have already breached the Rs 100-mark in Mumbai. A litre of petrol and diesel in the country’s financial capital now costs Rs 100.72 and Rs 92.69 respectively. Currently, fuel prices are highest in Mumbai among all metro cities.

In Delhi, a litre of petrol is selling at Rs 94.49 and diesel Rs 85.38, according to Indian Oil Corporation, the country’s largest fuel retailer.

Here is the list of fuel prices in top-10 cities:

Petrol price has increased by Rs 3.83 in May, while diesel price has gone up by Rs 4.43 per litre. After Tuesday’s rise which was also the first rise of June added up to Rs 4.10 for petrol and Rs 4.66 for diesel. This was the 17^th price hike since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision in May.

Fuel prices have shot up to record levels since January. Over the last few months, there have been 26 increases in petrol and diesel prices that have rocketed prices by more than Rs 10 per litre.

Fuel price above Rs 100 mark
Petrol prices have crossed the Rs 100-mark in parts of Rajasthan, Madhya Pradesh and Maharashtra. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at Rs 105.53 per litre and Rs 98.34 a litre, respectively. Indore, Bhopal, Gwalior, Jaisalmer, Jaipur, Banswara, Ratnagiri, Parbhani and Aurangabad are also few cities selling auto fuel above Rs 100 mark.

Prices differs  due to difference 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.