Over the past 18 days, petrol prices have been increased by Rs 2.64/litre and diesel by Rs 3.07/litre.
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai (Representative Image)
Fuel prices have been hiked by oil marketing companies (OMCs) on May 21 after a two-day break. The hike on May 21 for petrol is 19 paise per litre while diesel is now dearer by another 29 paise per litre.
Petrol price in Delhi is now at Rs 93.04, while diesel costs Rs 83.80 in the national capital. In Mumbai, petrol is now at Rs 99.32 and diesel at Rs 91.01, CNBC-TV18 reported.
Over the past 18 days, petrol prices have been increased by Rs 2.64/litre and diesel by Rs 3.07/litre. Over the last two days, fuel prices remained unchanged after a surge on May 18.
Fuel prices vary across states depending on local taxation like value added tax (VAT). Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.
Central and state taxes make up for 60 percent of the retail selling price of petrol and over 54 percent of diesel.
The state-run OMCs – Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum – decide the rates of domestic fuel against global crude oil prices by taking into account changes in foreign exchange rates.