Petrol price shoots past Rs. 100 a liter in Thane
What's the story
Petrol price on Thursday crossed the Rs. 100-a-liter mark in Thane district of Maharashtra, while it was hovering a tad below that level in Mumbai after fuel prices were raised again.
Petrol price was increased by 24 paise per liter and diesel by 29 paise a liter on Thursday, according to a price notification of state-owned fuel retailers.
Price hike
Petrol has already crossed Rs. 100 mark in many cities
The increase took petrol and diesel prices to an all-time high across the country.
The price of petrol, which had already crossed the Rs. 100-mark in several cities in Rajasthan, Madhya Pradesh, and Maharashtra, breached the psychological barrier in the Thane district of Maharashtra on Thursday.
In Thane, petrol now comes for Rs. 100.06 a liter and diesel costs Rs. 91.99.
Taxes
Maharashtra levies the third highest VAT on petrol
In the neighboring city of Mumbai, petrol price increased to Rs. 99.94 per liter, while diesel rates soared to Rs. 91.87.
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 and Maharashtra.
Further details
This is the fourteenth increase this month
This is the 14th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
Prices across country
Sri Ganganagar district of Rajasthan has the costliest fuel
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel at Rs. 104.67 per liter and Rs. 97.49 a liter, respectively.
In 14 increases, petrol price has risen by Rs. 3.28 per liter and diesel by Rs. 3.88.
There was a reduction of 67 paise a liter on petrol price and diesel by 74 paise effected between March 24 and April 15.