Fuel prices hiked for 8th day in a row; petrol reaches ₹99.87 in Rajasthan
- Petrol price was raised by 30 paise per litre and diesel by 35 paise today.
- In Delhi, petrol now comes for ₹89.29 per litre and diesel for ₹79.70.
Petrol price on Tuesday soared to ₹99.87 per litre in Rajasthan - the highest level India has ever seen - as fuel prices were hiked for the eighth day in a row.
Petrol price was raised by 30 paise per litre and diesel by 35 paise, according to a price notification of state-owned fuel retailers.
Simultaneously, the oil firms hiked cooking gas (LPG) price by ₹50 per cylinder and that of jet fuel (ATF) by 3.6 per cent.
LPG now comes for ₹769 per 14.2-kg cylinder in the national capital.
The increase in petrol and diesel priced pushed retail rates, which differ from state to state depending on the incidence of local sales tax or VAT and freight charges, to their highest level.
In Delhi, petrol now comes for ₹89.29 per litre and diesel for ₹79.70.
Rates are higher in states that levy higher VAT.
In Mumbai, petrol price rose to ₹95.75 a litre and diesel was priced at ₹86.72.
Rajasthan, which levies the highest VAT on fuel in the country, had the highest petrol and diesel prices.
In Sriganganagar town of the state, petrol soared to ₹99.87 and diesel jumped to ₹91.86 per litre.
While branded/premium or additive mixed petrol is already over ₹100-mark at some places in three states of Maharashtra, Madhya Pradesh and Rajasthan, the ₹99.87 a litre price of regular petrol is the highest that the country has ever seen.
This is despite the Rajasthan government late last month cutting VAT on petrol and diesel by 2 per cent. VAT on petrol at 36 per cent plus ₹1.5 per litre road cess is still the highest in the country. On diesel, the state levies 26 per cent and ₹1.75 per litre road cess.
Branded petrol at Sriganganagar was priced at ₹102.65 a litre and similar grade diesel at ₹95.52.
Branded petrol is priced at ₹92.12 per litre in Delhi and same grade diesel at ₹82.99.
The oil firms raised aviation turbine fuel (ATF) price by ₹1,942.5 per kilolitre, or 3.6 per cent, to ₹55,737.91 per kl in the national capital.
While petrol and diesel prices are revised on a daily basis, LPG and ATF rates are revised on 1st and 16th of every month.
In eight straight days, prices have gone up by ₹2.34 per litre for petrol and ₹2.57 for diesel.
The relentless hike in prices has been criticised by the opposition parties including Congress that has demanded an immediate cut in taxes to ease the burden on the common man.
Oil Minister Dharmendra Pradhan last week had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.
Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel.
The union government levies ₹32.90 per litre of excise duty on petrol and ₹ ₹31.80 a litre on diesel.
Retail petrol rates have risen by ₹19.7 per litre since mid-March 2020 after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices. Diesel rates have gone up by ₹17.41.