New Delhi: Petrol and diesel prices on Monday hit document highs throughout the nation after charges have been elevated for the fifth time in every week, following which Maharashtra joined Rajasthan and Madhya Pradesh in the league of states the place petrol charges breached the Rs 100-a-litre mark.
Petrol value was hiked by 26 paise a litre and diesel by 33 paise per litre, in accordance with a value notification by state-owned fuel retailers.
This was the fifth improve in prices since May 4, when the state-owned oil corporations ended an 18-hiatus in price revision throughout meeting elections in states like West Bengal.
The improve took petrol and diesel prices to their highest-ever degree. In Delhi, petrol now comes for Rs 91.53 per litre and diesel is priced at Rs 82.06 per litre.
While petrol prices had crossed the Rs 100-mark in some locations in Rajasthan and Madhya Pradesh a couple of days again, Maharashtra’s Parbhani joined the league on Monday. Petrol in Parbhani was priced at Rs 100.20 a litre, whereas in Bhopal it got here for Rs 99.55 a litre.
The fuel is bought at Rs 102.42 a litre in Sri Ganganagar district of Rajasthan and at Rs 102.12 in Anuppur of Madhya Pradesh.
This is the second time this yr that charges in some elements have crossed the Rs 100-a litre mark. Rates had breached the physiological mark for the primary time in mid-February.
Fuel prices differ from state to state relying on the incidence of native taxes akin to VAT and freight fees. Rajasthan levies the best value-added tax (VAT) on petrol in the nation, adopted by Madhya Pradesh.
In 5 will increase in the final one week, petrol value has risen by Rs 1.14 per litre and diesel by Rs 1.33 – greater than neutralising the entire discount that got here between March 24 and April 15.
After elevating petrol value by a document Rs 21.58 per litre and diesel by Rs 19.18 because the authorities raised excise obligation to an all-time excessive in March final yr, state-owned fuel retailers, IOC, BPCL and HPCL had decreased petrol value by 67 paise a litre and diesel by 74 paise per litre effected between March 24 and April 15.
Oil firms, who’ve in latest months resorted to unexplained freeze in price revision, had hit a pause button after reducing prices marginally on April 15. This coincided with electioneering hitting peak to elect new governments in 5 states together with West Bengal.
No sooner had voting ended, oil firms indicated an impending improve in retail prices in view of firming developments in worldwide oil markets.
They mentioned prices have been on a steady uptrend since April 27, crude oil value is hovering close to USD 70-per-barrel mark.
Central and state taxes make up for 60 per cent of the retail promoting value of petrol and over 54 per cent of diesel. The union authorities levies Rs 32.90 per litre of excise obligation on petrol and Rs 31.80 on diesel.
In Mumbai, the petrol value was hiked to Rs 97.86 a litre on Monday from Rs 97.61, whereas diesel charges have been elevated to Rs 89.17 from Rs 88.82, the worth notification confirmed.
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