Petrol, Diesel prices remain unchanged for second consecutive day: Check rates here

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 on June 3 remained unchanged for the second consecutive day across major metropolitan cities of India. The price of petrol remained above the Rs 100-mark in Mumbai and stood at Rs. 100.72 per litre. Diesel was priced at Rs 92.69 per litre.

Petrol and diesel are priced at Rs 94.49 per litre and Rs 85.38 per litre in Delhi, according to the Indian Oil Corporation (IOCL).

Fuel prices vary across states depending on local taxation like value-added tax (VAT) and factors such as freight charges. Rajasthan reportedly levies the highest 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.

Meanwhile, the petrol price in Chennai stood at Rs 95.99 and that of diesel price was Rs 90.12 per litre. The price of petrol and diesel in Kolkata were reduced to Rs 94.50 per litre and Rs 88.23 per litre, respectively.

The state-run oil marketing companies (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.