New Delhi: The petrol price was increased by 24 paise per liter on Sunday and diesel by 27 paise, bringing the country’s prices to a record high and that of petrol in Mumbai to close to Rs 99 per liter.
The rise led to rates in Delhi rising to Rs 92.58 per liter and diesel to Rs 83.22, according to a price report from state fuel dealers.
Tariffs have already surpassed Rs 100 mark in a number of cities in Rajasthan, Madhya Pradesh and Maharashtra, and with the recent rise, the price in Mumbai was also at that level.
A liter of petrol in Mumbai now costs Rs 98.88 and diesel costs Rs 90.40 per liter.
Fuel prices vary from state to state depending on the occurrence of local taxes such as VAT and freight charges. Rajasthan levies the highest VAT on petrol in the country, followed by Madhya Pradesh and Maharashtra.
This is the ninth rise in prices since May 4, when state-owned oil companies ended an 18-year rate hike they observed during assembly elections in states such as West Bengal.
The Sri Ganganagar district in Rajasthan had the most expensive petrol and diesel in the country with 103.52 Rs per liter and 95.99 Rs per liter respectively.
In nine increases, the petrol price increased by 2.19 R per liter and diesel by 2.49.
Since March last year, when the government raised the excise tax on fuel to an everyday high, the petrol price has risen by a record 22.99 Rl per liter (after a few occasions that rates have fallen) and diesel by 20.93.
Oil companies, which have turned to unexplained freezes in rate revisions over the past few months, have pressed a pause button after lowering prices slightly on April 15.
Once the vote ended, oil companies indicated a threatening rise in retail prices due to the strengthening trend in the international oil market.
Central and state taxes make up 60 percent of the retail price of gasoline and more than 54 percent of diesel. The trade union government charges R 32.90 per liter of excise duty on petrol and 31.80 on diesel.
Source: Telangana Today