Petrol goes past Rs 100-mark, diesel price hits fresh high; check rates in top cities

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Auto fuel prices on May 12 were hiked for third day in a row, propelling petrol to breach the Rs 100-mark in Maharashtra’s Parbhani, Rewa in Madhya Pradesh and Sriganganagar in Rajasthan. On Wednesday, petrol becoming costly by 25 paise and diesel by 27 paise a litre. After today’s revision, in Sri Ganganagar, petrol touched Rs 102.96 a litre, while in Rewa, MP it now costs Rs 102.30 and Rs 100.62 in Parbhani, Maharashtra.

This was the seventh increase in prices 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.

In Delhi, petrol will cost you Rs 92.05 per litre and diesel Rs 82.61. In Mumbai, you’ll have to pay Rs  98.36 and Rs 89.75 for a litre of petrol and diesel respectively. Currently, fuel prices are highest in Mumbai among all metro cities.

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

Fuel prices differ from state to state as taxes get levied on them by both central as well as state governments along with the 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 and Rs 31.80 on diesel.

Prices change every morning State-run oil marketing companies – Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum – align domestic fuel prices with global crude rates by taking into account any alterations in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day.

Domestic oil companies decide the prices of petrol and diesel based on the average price of the last 15 days of crude oil in the international market. These oil companies also have to take into account the fluctuations in the rupee against the dollar.