New Delhi: After a day’s pause, fuel prices were again hiked on Thursday, pushing rates to fresh all time record highs, according to a price notification of state-owned fuel retailers.
On Thursday, in Delhi, petrol and diesel prices were increased by 26 paise and 7 paise, respectively. With the latest revision in the prices, petrol is now retailing at Rs 97.76 per litre and diesel is selling at Rs 88.30 in the national capital. Likewise, there’s no stopping petrol and diesel prices in Mumbai, which are retailing at Rs 103.89 and Rs 95.79 per litre, respectively.
Here is looking at the price difference of diesel and petrol in four metro cities on June 24, 2021.
Check petrol, diesel prices in your city, here is how to do it
In India, petrol and diesel prices are revised daily in the morning at 6 AM. Anyone can easily check the rate of petrol and diesel by sending an SMS to 9224992249. All you need to is type RSP <space> Petrol Pump Dealer Code and send it to 9224992249. You can find the RSP code of your locality by visiting the official site of the petrol pump near you.
But why are fuel prices constantly on the rise?
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.
The excise tax levied by the Central and state government one of the reasons behind fuel price hike.
Fuel rates in the international market determine the rates of oil prices in India. When global fuel prices go up, OMCs hike prices in the country.