Petrol prices hiked by ₹4.36/l, diesel by ₹4.93/l since May 4

NEW DELHI: The upward movement of fuel rates continued for the eighteenth time as state-run oil companies on Friday raised petrol price by 27 paise and diesel by 28 paise. Petrol is now costlier by ₹4.36 per litre and diesel by ₹4.93 per litre across the country since May 4, two days after the results of five assembly polls were declared.

The latest hike took auto fuel rates to yet another record. The unidirectional movement this month saw petrol breaching ₹100 mark in various cities across the country, particularly in Maharashtra, Rajasthan, Andhra Pradesh, and Madhya Pradesh. Some of the cities selling the fuel for over ₹100 per litre are Mumbai, Ratnagiri, Parbhani, Aurangabad, Jaisalmer, Ganganagar, Banswara, Indore, Bhopal, Gwalior, Guntur, and Kakinada.

Pump price of petrol in Delhi jumped to ₹94.76 per litre and diesel to ₹85.66 on Friday. Mumbai has the highest rate among the metros—petrol is currently sold at ₹100.98 and diesel at ₹92.99 per litre in the financial capital.

While fuel rates in Delhi are the benchmark for the entire country, retail prices of the two fuels differ from place to place because of variations in state taxes and local levies. Surging international oil rates and the exorbitant domestic tax structure are two key reasons for high rates of petrol and diesel in the country.

Pump prices of petrol and diesel are also high because of taxes. In Delhi, central levies account for 34.8% of petrol’s price, and state taxes 23.08%, according to an official data of June 1. For diesel, central taxes are over 37.24% and state taxes are about 14.64%.