Petrol, diesel prices remain static on May 26; check rates in top cities

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Petrol and diesel prices held steady on May 26 after hitting record highs yesterday. On May 25, fuel prices had touched an all-time high, with petrol becoming costly by 23 paise and diesel by 25 paise per litre. Petrol also breached the Rs 100-mark in some parts of Rajasthan, Madhya Pradesh and Maharashtra.

Today, a litre of petrol in Delhi would cost Rs 93.44 and diesel at Rs 84.32, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, a litre of petrol and diesel can be bought for Rs 99.71 and Rs 91.57, respectively.

Petrol price has increased by Rs 3.04 so far in May, while diesel by Rs 3.59 per litre. On May 23, fuel prices increased for the 12th time in 20 days since May 4 when the state-owned oil firms ended an 18-day hiatus.

Here’s a list of fuel prices in top-10 cities:

Fuel price above Rs 100 mark:

Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at Rs 104.42 per litre and Rs 97.18 a litre, respectively. Ratnagiri, Parbhani, Aurangabad, Indore, Bhopal, Gwalior, Jaisalmer, and Banswara are also few cities selling auto fuel above Rs 100 mark.

Prices differs  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. 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.