487749 SIP myths you must know!

Petrol and diesel prices remained stable on June 25 across the country after a day’s rise. The auto fuel prices touched a new all-time high on Thursday, with petrol and diesel becoming costly by 26 paise and 7 paise per litre respectively.

Today, a litre of petrol and diesel in Delhi is being sold at Rs 97.76 and Rs 88.30 respectively, according to Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, a litre of petrol and diesel will cost Rs 103.89 and Rs 95.79. Currently, fuel prices are highest in Mumbai among all metro cities.

Yesterday’s hike added up to Rs 7.36 for petrol and Rs 7.57 for diesel. It was the 29th price hike since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision in May. Petrol price increased by Rs 3.83 in May and diesel by Rs 4.43 per litre.

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 seven states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu & Kashmir, Odisha and Ladakh. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country with Rs 108.94 per litre and Rs 101.48 a litre. Indore, Bhopal, Gwalior, Jaisalmer, Jaipur, Banswara, Ratnagiri, Parbhani and Aurangabad are also few cities selling auto fuel above Rs 100 mark.

Prices differ due to difference 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. Any changes in fuel rates are implemented with effect from 6 am each day.