Petrol price nears Rs 110 per litre mark in Madhya Pradesh; check rates in Delhi, Mumbai, other cities

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Petrol prices inched closer to Rs 110 per litre mark in parts of Madhya Pradesh, while diesel stood below Rs 99 after the latest revision on Monday. Petrol prices hit record highs on July 12 after rising 28 paise, while diesel eased by 17 paise across the country.

Today, a litre of petrol in Delhi is being retailed at Rs 101.19 and diesel at Rs 89.72, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, a litre of petrol and diesel will cost Rs 107.20 and Rs 97.29 respectively. Currently, fuel prices are highest in Mumbai among all metro cities.

Today’s revision added up to Rs 10.50 in petrol and Rs 9.89 in diesel since May. This is the 39^th price hike in petrol since May 4 when fuel rates started increasing after the Bengal elections. This is also, the 7th hike of the month for petrol. 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 18 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 112.53 and diesel at Rs 102.98. 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.