Petrol, diesel prices rise again after a day's gap, hit record highs

Petrol and diesel prices moved higher on May 18 after a day’s pause. On Tuesday, the auto fuel prices touched a new all-time high, with petrol becoming costly by 27 paise and diesel by 29 paise per litre.

Petrol prices have already crossed the Rs 100-mark in parts of Rajasthan, Madhya Pradesh and Maharashtra. After today’s revision, the price in Mumbai too inched closer to Rs 100 per litre.

Today, a litre of petrol in Delhi will cost Rs 92.85 and diesel Rs 83.51. In Mumbai, a litre of petrol and diesel will cost Rs  99.14 and Rs 90.71 respectively.

Petrol price has increased by Rs 2.45 so far in May, while diesel rose by Rs 2.78 per litre. This is the tenth increase 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.

Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at Rs 103.52 per litre and Rs 95.99 a litre, respectively.

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

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.