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Fuel prices were hiked again on May 25, the 13th time it has been done in May. One litre of petrol now costs Rs 93.44 in the national capital and diesel Rs 84.32, 23 paise. After the hike, the price of petrol in Mumbai nears to Rs 100/litre mark. Diesel will cost Rs 91.57 in Mumbai, according to Indian Oil Corporation Limited.
State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum decide the rates of domestic fuel with the global crude prices by taking into account changes in the foreign exchange rates. Fuel prices differ across states depending on local taxation like a Value-Added Tax (VAT). Rajasthan charges the highest value-added tax (VAT) on petrol in the country followed by Madhya Pradesh and Maharashtra.
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 104.42 per litre and Rs 97.18 a litre. Consumers in Chennai would have to shell out Rs 95.06 for petrol and Rs 89.11 for diesel. In Kolkata, the petrol will cost Rs 93.49 and diesel Rs 87.16.
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