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Petrol prices cross Rs. 100/liter in many Indian cities: Diesel prices also at lifetime high

Petrol and diesel prices in the country have once again increased and this time around, the prices of both petrol and diesel have now reached all-time high in the country. Petrol and diesel prices are increased for the third straight day this week. In Delhi, petrol prices rose by 25 paise and the diesel prices were also increased by 25 paise.  Many of the Indian cities have even crossed the Rs 100 per litre mark after today’s price rise. According to reports, the price for a litre of petrol in Madhya Pradesh’s capital city is Rs 100.08 and price for diesel is at Rs 90.95 per litre.

Other than Bhopal, Madhya Pradesh’s Anuppur has recorded Rs 102.66 per litre of petrol and Rs 93.33 for diesel. The state of Rajasthan which levy the highest VAT on fuel in the country has also recorded a price of Rs 102.96 for a litre of petrol in Sri Ganganagar. The cost for a litre of diesel stands at Rs 95.33 per litre. Earlier this year, when prices were rising, only Indian Cities to cross or touch Rs 100 per litre mark were from Rajasthan and Madhya Pradesh. Price rise earlier this week pushed Maharshtra’s Parbhani district to the Rs 100 per litre club. Currently the cost of petrol in this district is Rs 100.74 and Rs 90.67 for diesel.

With the recent rise in prices, there are reports that few more districts from Rajasthan, Madhya Pradesh and Maharashtra have crossed Rs 100 per litre mark. The price for petrol and diesel fuel are not uniform across the country. The price differs depending upon the factors like VAT and freight charges. Apart from these, central government also charges an excise duty on auto fuel.

The state and the central taxes make up for 60 per cent of retail selling price of petrol and over 54 per cent of diesel. Central government levies Rs 32.90 and Rs 31.80 on every litre of petrol and diesel respectively. Generally prices are increased or decreased in the country on a daily basis after analysing the crude oil prices in international market.

This is the seventh time fuel prices have been hiked this month. Fuel prices were increased four times last week. So far, petrol prices have been increased by Rs 1.65 per litre and diesel has seen an increase of Rs 1.88 this month alone. Earlier this year during January-February, fuel prices had reached a record high and after February 27, Oil Marketing Companies took a pause and reduced prices on March 24-25 and March 30. After this the prices remained constant for almost 15 days and on April 15, the prices were slightly reduced once again.

After this, the price remained steady for 18 days again. The assembly elections in Puducherry, Assam, Kerala, West Bengal and Tamil Nadu were also a reason why the prices remained unchanged and only started going up only after the elections had finished. If the price of petrol and diesel continues to rise in coming days, the chances of getting more cities into the Rs 100 per litre club also increases. Many cities have crossed 90 per litre mark and inching towards triple digits.

source: IE