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Petrol and Diesel Today are at All-Time High

Petrol and diesel prices have remained unchanged on Friday. At present, the fuel rates are all-time high in India. Petrol is selling at over Rs 100 in all four metro cities — Mumbai, Delhi, Kolkata and Chennai. State-run oil marketing companies last hiked the prices of petrol and diesel on July 8. The pump rate for petrol in Mumbai is Rs 106.59 per litre as it stands. Petrol is retailing at Rs 100.56 per litre in Delhi, while in Kolkata the going rate is Rs 100.62 per litre. The petrol rate in Chennai as it stands is at Rs 101.37 per litre. Bangalore’s petrol price falls second only to Mumbai. Bangalore carries a petrol rate of Rs 103.93 per litre.

Diesel prices have done a fair job of catching up to the petrol rates across the metros. While petrol swings its weight in the triple digits, diesel is reaching that point. In some cities outside the metros, the price of diesel even exceeds the petrol rates. In Mumbai diesel is retailing at Rs 97.18 per litre. In Delhi, the going rate for diesel is Rs 89.62 per litre. Kolkata holds strong with its price of Rs 92.65 per litre, beating out the nation’s capital. The city of Chennai is retailing diesel at a rate of Rs 92.15 per litre. State-run oil companies in Bangalore are giving motorists a diesel price of Rs 94.99 per litre.

Outside the metro cities mentioned, as many as 16 states and Union Territories across India have seen the petrol rates go well past the Rs 100-a-litre mark. These states are Rajasthan, Madhya Pradesh, Bihar, Punjab, Ladakh, Sikkim, Jammu and Kashmir and Odisha, Kolkata, Tamil Nadu, Kerala, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Delhi. Rajasthan and Madya Pradesh have the highest petrol rates in the country. Rajasthan’s petrol rate in Ganganagar stands at Rs 111.87 per litre. In Madya Pradesh’s Bhopal, petrol retails for Rs 108.88 per litre.

The price of petrol and diesel is so high due in part to the state-level value added tax (VAT) that is levied. This makes up the majority of the price share, while the rest falls to excise duty, port duty, transportation and retail rates. It all eventually comes down to the international crude oil prices and the currency conversion rate of Dollar to Rupee. Over 60 per cent of the existing petrol price is made up of taxes. For diesel, this bracket comes to around 53 per cent as per a report by Times of India. The second-highest bracket is excise duty charged on both types of fuel.

Benchmark US crude oil for August delivery climbed 74 cents. This made the final price $72.94 per barrel on Thursday. Brent crude oil for the September delivery went up by 69 cents to $74.12 per barrel, according to an AP report.

Check the petrol and diesel prices in your city in the table below:

 CITIES PETROL (RS) DIESEL (RS)
Mumbai Rs 106.59 Rs 97.18
Delhi Rs 100.56 Rs 89.62
Kolkata Rs 100.62 Rs 92.65
Chennai Rs 101.37 Rs 94.15
Bangalore Rs 103.93 Rs 94.99
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