New Delhi: The beginning of the week once again witnessed rise in petrol price, but some relief for motorists as diesel prices were slashed after almost two months, according to a price notification by state-owned fuel retailers. Petrol prices have become costlier overnight by 28-30 paise whereas diesel prices were reduced by 14-16 paise on Monday.
With the latest revision, petrol now is being retailed at Rs101.91 in Delhi, whereas diesel is costing Rs89.72. In Mumbai, petrol price has touched Rs107.20 per litre, whereas diesel price has seen a decline to Rs97.29 per litre.
The petrol price in metro cities including Chennai, Delhi and Kolkata are touching the three figure mark of Rs 102-a-litre mark in a record high. Bangalore and Mumbai have already breached that mark and moving towards the Rs 105-a-litre mark and Rs 108-a-litre mark, respectively.
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Petrol prices in Chennai at Rs101.91 whereas diesel at Rs94.24. In Bangalore motorists have to pay Rs 104.58 for per litre of petrol, which is a 29 paise increase while diesel price stands at Rs 95.09, which is a 17 paise drop.
Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges.
The current rise in domestic prices is impacted international Brent crude rates as India is largely dependent upon imports for 85 per cent of its oil needs. Rajasthan levies the highest VAT on petrol and diesel in the country.
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel. The prices vary in states 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.