Petrol, diesel price on June 12: Fuel prices hiked again; check rates in Mumbai, Delhi and other cities

Petrol, diesel price today | Central and state taxes make up for 60 percent of the retail selling price of petrol and over 54 percent of diesel. [Image: Shutterstock]

Petrol and diesel prices were hiked on the second consecutive day on June 12 across all metros. The increase was the 23rd rise in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision observed during the assembly elections in some states.

With the latest revision, a litre of petrol now costs Rs 102.30 in Mumbai, while diesel is priced at Rs 94.39, according to the Indian Oil Corporation website.

Maharashtra’s capital on May 29 became the first metro in the country where petrol was being sold at over the Rs 100-a-litre mark.

In Delhi, the price hike led to a litre of petrol retailing at Rs 96.12 and diesel at Rs 86.98.

The fuel prices were revised to Rs 97.43 per litre for petrol and Rs 91.64 per litre for diesel in Chennai.

In Kolkata, petrol was sold at Rs 96.06 per litre and diesel at Rs 89.83 per litre following the hike.

Petrol is above Rs 100 per litre mark in at least six states and union territories, including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.

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.

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.

Meanwhile, Congress on June 11 demonstrated in several parts of the country against the rising fuel prices, during which over 150 members were detained in Gujarat, Delhi and Uttar Pradesh for allegedly violating COVID protocol and protesting without permission.