Petrol is being sold in the Sri Ganganagar district of Rajasthan for Rs 103.80 per liter, the most expensive in the country. Diesel in Sri Ganganagar costs Rs 96.30 per liter.
The price of auto fuel in India depends on international crude oil prices and the exchange rate of rupee dollars. The Central Government and states also levy various taxes on petrol and diesel such as excise duty and value-added tax (VAT). The Centre has increased excise duty of Rs 13 on petrol and Rs 16 on diesel between March 2020 and May 2020. Now the duty is ₹31.8 on diesel and ₹32.9 on petrol. VAT varies from state to state.
In the international market, oil prices rose on Tuesday on the restarts of the US and European economies. Brent crude oil futures were up 20 cents, or 0.3%, by 0231 GMT at $69.66 a barrel, while West Texas Intermediate (WTI) was up 19 cents, or 0.3%, at $66.46 a barrel, According to Reuters. Both contracts rose more than 1% on Monday. In India, the second-hardest hit by the epidemic, domestic sales of gasoline and diesel by state refiners fell by a fifth in the first half of May from a month earlier.