Petrol prices were hiked again on Monday whereas diesel prices were reduced after two months, according to a price notification by state-owned fuel retailers. Petrol prices were hiked by 28-30 paise whereas diesel prices were reduced by 14-16 paise.
After the latest revision, petrol now costs at ₹101.91 in Delhi, whereas diesel is retailing at ₹89.72. In India’s financial capital Mumbai, petrol is being sold at ₹107.20 per litre, whereas diesel price has declined to ₹97.29 per litre.
In Kolkata, petrol price reached ₹101.35 per litre whereas diesel price decreased to reach ₹92.81 per litre. Petrol prices in Chennai at ₹101.91 whereas diesel at ₹94.24.
Bhopal had in May become the first city to breach the ₹100-mark in petrol prices. It was followed by Jaipur, Mumbai, Hyderabad and Bengaluru. Patna and Thiruvananthapuram saw petrol go past ₹100 in the last week of June whereas Chennai and Bhubaneshwar joined the list in the first week of July. The price climbed over ₹100 per litre in Kolkata and Delhi on Wednesday.
The central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. Centre levies ₹32.90 per litre of excise duty on petrol and ₹31.80 a litre on diesel.
The difference in prices in states occurs on account of local taxes like VAT or freight charges.
Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
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