New Delhi: After Rajasthan, Madhya Pradesh and Maharashtra, the price of petrol in Leh in almost all districts of Andhra Pradesh and parts of Telangana exceeded the R 100-liter mark after fuel prices rose again on Friday.
The petrol price was increased by 27 paise per liter and diesel by 28 paise per liter, according to a price report from state-owned enterprises for fuel.
The hike – 18th in the past month – has brought fuel prices nationwide to a historic high.
In Delhi, petrol reached a peak of 94.76 liters per liter, while diesel is now 85.66 liters per liter.
Fuel prices vary from state to state depending on the occurrence of local taxes such as VAT and freight charges.
In all the districts of Rajasthan, Madhya Pradesh and Maharashtra, the petrol price is much higher than the amount of Rs 100 per liter – the countries that charge the highest value added tax (VAT) in the country.
Retail prices have risen following an increase in international oil prices due to investors’ optimism that the improvement in demand and a declining supply glow could mean that the market could absorb any additional production from OPEC and its allies.
Brent crude – the global oil price benchmark – has risen above $ 71 a barrel for the first time in two years.
After the relentless price increase, fuel figures in places like Andhra Pradesh, Telangana and Leh have seen unprecedented levels.
Petrol is sold in almost all districts of Andhra Pradesh at more than Rs 100 per liter, except Vizag, where it costs 99.75 per liter. Diesel in Vizag costs Rs 94.08 per liter.
In Telangana, petrol prices exceeded the psychological level in Adilabad (Rs 100.57) and Nizamabad (Rs 100.17).
Petrol costs R 100.43 per liter in Leh.
Rajasthan charges the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Mumbai on May 29 became the first metro in the country to sell petrol at more than R100 liters. In the city, petrol now costs 100.98 liters and diesel costs 92.99.
In Bellary, Karnataka, petrol is sold at Rs 99.83 per liter. In Bengaluru petrol costs 97.98 Rl per liter and diesel costs R 90.87.
The rise on Friday is the 18th increase in prices since May 4, when state-owned oil companies ended an 18-day break in the tariff review they observed during general elections in states such as West Bengal.
In 18 increases, the petrol price increased by 4.36 Rl per liter and diesel by 4.93 Rk per liter.
The rates are the highest in the country in Sri Ganganagar district Rajasthan, where petrol costs Rs 105.81 per liter and diesel Rs 98.64 per liter. Madhya Pradesh’s Shahdol district costs petrol at Rs 105.18 per liter and diesel at Rs 96.31.
Oil companies review daily rates for gasoline and diesel based on the average price of standard fuel in the international market over the past 15 days, and foreign exchange rates.
Members of the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC +, agreed earlier this week to continue easing restrictions on oil production, indicating their confidence in improving oil demand and a decline in global supply.
Vaccine deployments help governments reduce coronavirus restrictions and resume more normal economic activities. This will help compare global oil supplies – which at one point last year threatened to overwhelm the world’s ability to store them.
Source: The Siasat Daily