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Petrol, Diesel Prices Today, May 17, 2021: Petrol price nears Rs 99 in Mumbai, check rates in your city
Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.
Highlights
- Rates differ from state to state.
- Rates depend on the incidence of VAT.
- Taxes make up for nearly two-third of the retail selling price.
New Delhi: Petrol and diesel prices on Monday was paused after being hiked for the record level on Sunday by the oil marketing companies.
Petrol price on Sunday was increased by 24 paise per litre and diesel by 27 paise, pushing rates across the country to record highs and that of petrol in Mumbai to near Rs 99 a litre.
In Delhi petrol prices stands at Rs 92.58 per litre and diesel at Rs 83.22 per litre according to a price notification of state-owned fuel retailers. A litre of petrol in Mumbai now comes for Rs 98.88 and diesel is priced at Rs 90.40 per litre.
Here is looking at the price difference of diesel and petrol in four metro cities on May 17, 2021.
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 92.58 | 83.22 |
| Mumbai | 98.88 | 90.40 |
| Chennai | 94.31 | 88.07 |
| Kolkata | 92.67 | 86.06 |
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.
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 103.52 per litre and Rs 95.99 a litre, respectively.
In nine increases, petrol price has risen by Rs 2.19 per litre and diesel by Rs 2.49.
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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