After Rajasthan and MP, petrol crosses Rs. 100-mark in Maharashtra
What's the story
Petrol-diesel prices on Monday hit record highs across the country after rates were increased for the fifth time in a week, following which Maharashtra joined Rajasthan and Madhya Pradesh in the league of states where petrol rates breached the Rs. 100-a-liter-mark.
Petrol price was hiked by 26 paise a liter and diesel by 33 paise, a price notification by state-owned fuel retailers stated.
Price hike
Petrol costs Rs. 91.53 a liter in the national capital
It is the fifth increase in prices since May 4, when the state-owned oil firms ended an 18-days hiatus in rate revision during assembly elections in states like West Bengal.
The increase took petrol and diesel prices to their highest-ever level. In Delhi, petrol now comes for Rs. 91.53 per liter and diesel is priced at Rs. 82.06 per liter.
Prices across country
Pay Rs. 99.55 for a liter of petrol in Bhopal
While petrol prices had crossed the Rs. 100-mark in some places in Rajasthan, Maharashtra's Parbhani joined the league on Monday. Petrol in Parbhani was priced at Rs. 100.20 a liter, while in Bhopal it costs Rs. 99.55 a liter.
The fuel is sold at Rs. 102.42 a liter in Sri Ganganagar district of Rajasthan and at Rs. 102.12 in Anuppur of Madhya Pradesh.
Taxes
Rajasthan levies the highest VAT on petrol
This is the second time this year that rates have crossed the Rs. 100-a liter mark. Rates had breached the physiological mark for the first time in mid-February.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.
Further details
Fuel prices saw a record rise last year
In the last one week, petrol price has risen by Rs. 1.14 per liter and diesel by Rs. 1.33, more than neutralizing the reduction of 67 paise a liter on petrol price and diesel by 74 paise effected between March 24 and April 15.
The government had raised excise duty to an all-time high in March last year, pushing up petrol and diesel prices.
Fuel prices
Petrol costs Rs. 97.86 per liter in Mumbai
Central and state taxes make up for 60 percent of the retail selling price of petrol and over 54 percent of diesel. The union government levies Rs. 32.90 per liter of excise duty on petrol and Rs. 31.80 on diesel.
In Mumbai, the petrol price was hiked to Rs. 97.86 a liter on Monday, while diesel rates were increased to Rs. 89.17.