Petrol at 100: Fuel prices cross century mark in Maharashtra, Rajasthan and Madhya Pradesh
Fuel prices break into new highs across the country. Petrol crosses Rs 100 mark in several cities of Rajasthan, Madhya Pradesh and Maharashtra
Mumbai: Fuel on fire! Premium petrol has crossed grim mark of Rs 100 per litre in multiple cities of Maharashtra, Rajasthan, Madhya Pradesh
Fuel prices continued to rally upward on Thursday, the 10th consecutive day when its retail prices gone up in India. In Sri Ganganagar town in Rajasthan, normal petrol price has shot up over Rs 100 per litre to stand at Rs 100.49 a litre. In Mumbai, petrol prices is just Rs 4 per litre short (Rs 96.32 a litre) of touching the three-digit mark of Rs 100 per litre for the very first time ever. Diesel prices in the city is closing on Rs 90 a litre (Rs 87.32 a litre). In Parbhani district, premium petrol also crossed Rs 100 mark.
Rajasthan and Madhya Pradesh have one of the highest Value-Added Tax (VAT) on fuel in India. With around 39 per cent VAT, MP charges the highest tax on petrol and diesel prices.
Accordingly, oil marketing companies raised the pump price of petrol by 34 paise and diesel by another 32 paise per litre in Delhi. With this increase, petrol is now priced at Rs 89.88 a litre and diesel Rs 80.27 a litre in Delhi. The global oil market remained firm and prices of both crude and products saw a big spike. In the last 10 days (since February 9), the price has gone up by Rs 2.93 per litre for petrol while diesel rate has risen by Rs 3.14 a litre.
Across the country as well, the petrol and diesel price increase ranged between 30-35 paise per litre depending on the level of local taxes on the two petroleum products. In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre.
The fuel prices on fire and have increased 22 times in this year with the two auto fuels increasing by Rs 6.17 and Rs 6.40 per litre respectively so far this year.
Executives at Oil Marketing Companies (OMCs) said that fuel prices may go up in coming days as retail prices may have to be balanced in line with worldwide developments to stop OMCs from making loss on sale of auto fuels.
(With inputs from IANS)