RBI Issues Circular On Levying Unfair Interest Charges On Customers

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, Jammu & Kashmir, Odisha, Manipur, Ladakh, Bihar, Punjab and others. Petrol and diesel prices get revised in India every day at 6 am.

Petrol and diesel prices on May 13 remained static after rising for three days in a row. Petrol soared past the Rs 100-mark in some more parts of Rajasthan, Madhya Pradesh and Maharashtra on Wednesday.

Today, a litre of petrol in Delhi will cost you Rs 92.05 and diesel Rs 82.61. In Mumbai, petrol held steady at Rs  98.36 per litre and diesel at Rs 89.75.

On May 12, the prices touched an all-time high, with petrol becoming costly by 25 paise and diesel by 27 paise a litre. In Sri Ganganagar, petrol costs Rs 102.96 a litre, while in Rewa, MP it is being retailed at Rs 102.30 and Rs 100.62 in Parbhani, Maharashtra.

Fuel prices have increased seven times since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision during assembly elections in states like West Bengal.

Here is the list of fuel 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.

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. Any changes in fuel rates are implemented with effect from 6 am each day.