Petrol, diesel prices rise for 2nd straight day; check rates in Delhi, Mumbai, Lucknow and other cities
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges
Petrol and diesel prices rose for the second day in a row on June 1. The auto fuel prices 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. After today’s revision, a litre of petrol and diesel in the country’s financial capital 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 and diesel will now cost Rs 94.49 and Rs 85.38 respectively, according to Indian Oil Corporation, the country’s largest fuel retailer.
Petrol price has increased by Rs 3.83 in May, while diesel price has gone up by Rs 4.43 per litre. This is the 17th price hike since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision in May.
Here is the list of fuel prices in top-10 cities:
Fuel prices have shot up to record levels since January. Over the last few months, petrol and diesel prices have been hiked 27 times, making auto fuel costlier by Rs 10 per litre.
Fuel price above Rs 100 mark:
Petrol prices have already 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.