58165Landlords gain from rental yield increase, tenants’ budget gets spoiled!

Petrol prices remained stable for the third consecutive day while diesel remained unchanged for the fourth day in a row on Tuesday, 20^th July. Petrol prices had touched a record high level across the country on Saturday, after rising by 30 paise, according to Indian Oil Corporation, the country’s largest fuel retailer.

Today, a litre of petrol in Delhi is being sold at Rs 101.84 and diesel at Rs 89.87.  In Mumbai, a litre of petrol and diesel will cost Rs 107.83 and Rs 97.45. Currently, fuel prices are highest in Mumbai among all metro cities.

Saturday’s hike has added up to Rs 11.15 for petrol, Rs 10.80 for diesel since May. The hike on July 17 was the 41^st price hike in petrol since May 4 when fuel rates started increasing after the elections. It was also the 9th hike of the month. The prices were hiked 16 times in June.

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

Fuel price above Rs 100 mark

Petrol prices have already crossed the Rs 100-mark in more than 20 states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Jammu & Kashmir, Odisha, Manipur, Ladakh, Bihar, Punjab and others. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country with petrol selling at Rs 113.21 and diesel at 103.15 per litre. Petrol and diesel prices changes every day at 6 am on the basis of international crude prices and foreign exchange rates.

Prices differ due to differences 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.