New Delhi: Petrol and diesel prices were yet again hiked on Friday, leading prices to newer highs as oil marketing companies decided to revise rates.
Petrol price on Tuesday was increased by 19 paise per litre and diesel by 29 paise, pushing rates across the country to record highs and that of petrol in Mumbai just a few paise short of breaching Rs 100 a litre.
In Delhi petrol prices stands at Rs 93.04 per litre and diesel at Rs 83.80 per litre according to a price notification of state-owned fuel retailers. A litre of petrol in Mumbai now comes for Rs 99.32 and diesel is priced at Rs 91.01 per litre.
Here is looking at the price difference of diesel and petrol in four metro cities on May 21, 2021.
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 93.04 | 83.80 |
| Mumbai | 99.32 | 91.01 |
| Chennai | 94.71 | 88.62 |
| Kolkata | 93.11 | 86.64 |
Rates had already crossed Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, price in Mumbai too was inching towards that level.
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 and Maharashtra.
Since March last year when the government raised excise duty on fuel to an all-time high, petrol price has increased by a record Rs 22.99 per litre (after accounting for a handful of occasions when rates fell) and diesel by Rs 20.93.
Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 on diesel.
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