Fuel price hike: Petrol rate hits Rs. 100/liter in Delhi
The petrol price Wednesday crossed the Rs. 100-a-liter mark in Delhi after fuel prices were increased in line with firming international oil trends. The petrol rate was increased by 35 paise/liter and diesel by 23 paise/liter, according to a price notification of state-owned fuel retailers. In Delhi, petrol now costs Rs. 100.21 a liter, while diesel is priced at Rs. 89.53 per liter.
Last of metros to see petrol crossing Rs. 100-a-litre mark
Notably, Delhi is the last of the metro cities in the country to see petrol rising above the Rs. 100-a-litre mark. Mumbai, Chennai, Hyderabad, and Pune already have prices above that mark. Kolkata also saw petrol prices climbing over Rs. 100 per liter on Wednesday.
Oil companies in India revise fuel rates every day
Fuel prices have been soaring across the country since May 4 as Oil Marketing Companies (OMCs) resumed price revisions after an 18-day hiatus in view of the Assembly elections in several states. Oil companies in India 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.
Rajasthan levies the highest VAT on petrol
In India, fuel prices differ from state to state depending on the incidence of local taxes like VAT and freight charges. To note, Rajasthan levies the highest VAT on petrol and diesel, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh, and Telangana. Currently, petrol retails at over Rs. 100/liter in Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Ladakh, Karnataka, Odisha, Bihar, and Kerala, among others.
Rahul Gandhi attacked Modi government over fuel price hike
Following the latest fuel price hike, Congress leader Rahul Gandhi hit out at the Centre as petrol prices breached the Rs. 100-a-liter mark in the national capital, charging that the Modi government runs on tax extortion. "Your car may run on petrol or diesel, Modi government runs on tax extortion," the former Congress president tweeted in Hindi on Wednesday.