Petrol and diesel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. (Representative image)
Prices of petrol and diesel remained unchanged on July 17 for the second day, following a hike on July 15, which took fuel prices to record high in India. The last increase, which was 40th since May 4, saw petrol prices hiked by 34-35 paise per litre, while the cost of diesel increased by 15-16 paise a litre.
With no change in fuel prices, people in Delhi today have to pay Rs 101.54 per litre for petrol and diesel costs Rs 89.87 a litre.
While petrol continues to remain at an all-time high of Rs 107.54 per litre in Mumbai, diesel costs Rs 97.45 a litre in the financial capital.
In Chennai, petrol costs Rs 102.23 per litre and diesel Rs 94.39; in Kolkata, people have to shell out Rs 101.74 for a litre of petrol and Rs 93.02 for diesel; and in Bengaluru, petrol is dearer by Rs 104.94 per litre and diesel by Rs 95.26 per litre.
The revision cycle started soon after results for the state elections were declared. Since May 4, petrol price has been hiked on 40 occasions while diesel rates have gone up 37 times and have been reduced on one occasion.
In 40 hikes since May 4, the price of petrol has risen by Rs 11.14 per litre. During this period, diesel rates have soared by Rs 9.14 a litre in 37 instances of price rise.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
The relentless price increase has pushed petrol rates above the Rs 100-a-litre mark in most places in 15 states, including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Odisha, Tamil Nadu, Kerala, Bihar and Punjab and at a couple of districts in Uttar Pradesh and Haryana.
Rates are also above the sensitive Rs 100 per litre level in four Union Territories including Delhi, Jammu and Kashmir and Ladakh.
Diesel, the most used fuel in the country, is above that level in some places in Rajasthan, Odisha and Madhya Pradesh.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.