New Delhi: Petrol price scaled Friday to Rs 102 per litre in some parts of Rajasthan and Madhya Pradesh. This happened after rates were raised for the fourth straight day. Petrol price was hiked by a steep 29 paise per litre and diesel by 31 paise a litre, according to a price notification by state-owned fuel retailers. This took the price of petrol in Delhi to Rs 91.27 per litre and that of diesel to Rs 81.73.
In Sri Ganganagar district of Rajasthan, petrol price touched Rs 102.15 a litre, prices from oil companies showed. In Anuppur of Madhya Pradesh, petrol now costs Rs 101.86 while it is priced at Rs 99.95 a litre in Parbhani, Maharashtra.
This is the second time this year that rates in some parts have crossed the Rs 100 mark. They 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 India, followed by Madhya Pradesh.
In four days, petrol price has increased by 88 paise per litre and diesel by Re 1. This rise has neutralized all of the reduction that came between March 24 and April 15.
After raising petrol price by a record Rs 21.58 per litre and diesel by Rs 19.18 since the government raised excise duty to an all-time high in March last year, state-owned fuel retailers – IOC, BPCL and HPCL – had reduced petrol price by 67 paise a litre and diesel by 74 paise per litre effected between March 24 and April 15.
Oil companies, who have in recent months resorted to unexplained freeze in rate revision, had hit a pause button after cutting prices marginally April 15. This coincided with electioneering hitting peak to elect new governments in five states including West Bengal.
No sooner had voting ended oil companies indicated an impending increase in retail prices. This is in view of firming trends in international oil markets. They said prices have been on a continuous uptrend since April 27. Crude oil price is hovering near USD 70 per barrel mark.
In Mumbai, petrol price was hiked to Rs 97.61 a litre Friday from Rs 97.34. Diesel rates were increased to Rs 88.82 from Rs 88.49, the price notification showed.