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Petrol Prices today: In Mumbai, a litre of petrol and diesel costs Rs 107.83 and Rs 97.45
Petrol prices increased on July 17 after a day’s pause while diesel prices remained unchanged for the second consecutive day. Petrol prices hit record highs on Saturday, after rising by 30 paise, according to Indian Oil Corporation, the country’s largest fuel retailer.
After today’s revision, a litre of petrol and diesel in the national capital is being retailed at Rs 101.84 and Rs 89.87 respectively. In Mumbai, a litre of petrol and diesel costs Rs 107.83 and Rs 97.45 respectively. Currently, fuel prices are highest in Mumbai among all metro cities.
Today’s hike added up to Rs 11.15 for petrol, while diesel prices remained static at yesterday’s rise of Rs 10.80. This is the 41st price hike in petrol since May 4 when fuel rates started increasing after the elections. This was also the 9th 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 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.