Petrol price cut by 16 paise, diesel by 14 paise; check rates in your city

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Petrol and diesel prices eased on April 15 after holding steady for over 2-weeks. With today’s revision, a litre of petrol in Delhi would cost Rs 90.40 and diesel Rs 80.73. In Mumbai, petrol would cost Rs 96.83 per litre and diesel Rs 87.81, according to state-run oil refiner Indian Oil Corporation’s (IOL) website. The previous cut in fuel prices was on March 30.

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

Fuel prices differ from state to state as taxes get levied on them by both the Centre as well as the state government along with the freight charges. These taxes make up to 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

State-run oil marketing companies – Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum – align the prices of domestic fuel 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.