On Monday, fuel prices reached new all-time highs in New Delhi. According to a price notification from state-owned fuel retailers, petrol prices increased by 28 paise per litre and diesel prices increased by 27 paise per litre.
Petrol reached an all-time high of Rs 95.31 per litre in Delhi, while diesel is now priced at Rs 86.22 per litre.
Petrol prices in Delhi crossed Rs 95 per litre on Sunday, and diesel prices breached Rs 86 per litre for the first time ever, as fuel prices were raised again.
The increase, the 21st since May 4, pushed fuel prices across the country to an all-time high. In six states and union territories, the price of petrol has risen above Rs 100 per litre: Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, and Ladakh. Fuel prices vary by state due to the presence of local taxes such as VAT and freight charges.
Here is looking at the price difference of diesel and petrol in four metro cities on June 7, 2021.
Check petrol, diesel prices in your city, here is how to do it
Petrol and diesel prices in India are revised daily at 6 a.m. Anyone can easily check the price of gasoline and diesel by texting 9224992249. All you have to do is text RSP space> Petrol Pump Dealer Code to 9224992249. You can find the RSP code for your area by visiting the official website of a nearby gas station.
But why are fuel prices constantly rising?
Fuel prices vary by state due to the presence of local taxes such as VAT and freight charges. Rajasthan has the country’s highest value-added tax (VAT) on petrol, followed by Madhya Pradesh and Maharashtra.
One of the reasons for the increase in fuel prices is the excise tax levied by the central and state governments.
The rates of oil prices in India are determined by fuel prices in the international market. When global fuel prices rise, OMCs raise their domestic prices.