Petrol, diesel rise after pause of two days; check rates in top cities

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Petrol and diesel prices inched higher on June 4 after remaining stable for two days. The auto fuel prices touched a new all-time high on Friday, with petrol becoming costly by 27 paise and diesel by 28 paise per litre.

Petrol prices have already breached the Rs 100-mark in Mumbai. After today’s revision, a litre of petrol and diesel in the country’s financial capital will cost Rs 100.98 and Rs 92.99, respectively. Currently, fuel prices are highest in Mumbai among all metro cities.

In Delhi, a litre of petrol and diesel will now cost Rs 94.76 and Rs 85.66, respectively, according to Indian Oil Corporation, the country’s largest fuel retailer.

Here is the list of fuel prices in top-10 cities:

Petrol price has increased by Rs 4.36 since May 4, while diesel price has gone up by Rs 4.93 per litre. This is the eighteenth price hike since May 4, when the state-owned oil firms ended an 18-day freeze in rate revision.

Since January, petrol and diesel prices have been hiked 28 times, making auto fuel costlier by Rs 10 per litre.

Fuel price above Rs 100 mark:

Petrol prices have already crossed the Rs 100-mark in parts of Rajasthan, Madhya Pradesh and Maharashtra. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country at Rs 105.80 per litre and Rs 98.63 a litre, respectively. 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.