Petrol, diesel prices rise after being static for two days: check rates in top cities

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After holding steady for two days, auto fuel prices increased on May 10. Petrol became costly by 26 paise and diesel by 35 paise per litre. After today’s revision, a litre of petrol in Delhi will cost Rs 91.53 while diesel will cost Rs 82.06. In Mumbai, you’ll have to pay Rs 97.86 and Rs 89.17 for a litre of petrol and diesel respectively.

Within seven days petrol prices have increased by Rs 1.08 per litre and diesel by Rs 1.33 per litre reversing the price cut that came between March 24 and April 15 amid West Bengal assembly elections.

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

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

These taxes make up for 61 per cent of the retail selling price of petrol and over 56 per cent of diesel. Centre levies Rs 32.98 per litre of excise duty and Rs 19.55 VAT on petrol.

For diesel, the central add excise duty up to Rs 31.83 and VAT to Rs 10.99. Besides, the price also includes a dealer commission of a minimum of Rs 2.6 per litre on petrol and Rs 2 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.