Petrol inches toward Rs. 100 per liter mark in Mumbai
Petrol price on Friday inched closer to the Rs. 100-a-liter mark in Mumbai while diesel crossed the Rs. 91 mark after oil companies raised fuel rates again. Petrol price was increased by 19 paise per liter and diesel, on the other hand by 29 paise a liter, according to a price notification by state-owned fuel retailers.
Some cities are already shelling out Rs. 100 or more
The hike - eleventh this month - pushed petrol and diesel prices to all-time high levels across India. In Delhi, petrol rates climbed to Rs. 93.04 a liter and diesel rose to Rs. 83.80. Rates had already crossed Rs. 100 mark in several cities of Rajasthan, Madhya Pradesh, and Parbhani in Maharashtra. Mumbai is also fast approaching the level now.
Rajasthan levies the highest VAT on petrol in India
A liter of petrol in Mumbai now comes for Rs. 99.32 and diesel is priced at Rs. 91.01 per liter. 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.
This is the eleventh hike this month
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. This is the eleventh increase in prices since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
Sri Ganganagar district of Rajasthan has the costliest fuel
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs. 104 per liter and Rs. 96.62 a liter, respectively. In 11 increases, petrol price has risen by Rs. 2.64 per liter and diesel by Rs. 3.07.