New Delhi: After Rajasthan, petrol prices Thursday crossed the Rs 100 per litre mark in Madhya Pradesh. This happened after fuel rates were increased for the 10th day in a row. Petrol price was hiked by 34 paise per litre and diesel by 32 paise, according to a price notification of state-owned fuel retailers.
Branded or additive-laced petrol, which attracts higher taxes, had crossed the Rs 100-mark in some places in states like Maharashtra, Madhya Pradesh and Rajasthan. However, regular petrol crossed the physiological mark in Sriganganagar town of Rajasthan Wednesday, and Thursday it went past that mark in Madhya Pradesh. In Anuppur of Madhya Pradesh, petrol is priced at Rs 100.25 per litre and diesel at Rs 90.35.
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. It levies 33 per cent plus Rs 4.5 a litre and 1 per cent cess on petrol. On diesel, it charges 23 per cent plus Rs 3 per litre and 1 per cent cess.
After Thursday’s price increase, petrol in Delhi costs Rs 89.88 per litre and diesel Rs 80.27. In Mumbai, petrol price rose to Rs 96.32 a litre and diesel was priced at Rs 87.32.
International oil prices have been on the boil since Saudi Arabia pledged additional voluntary output cuts of one million barrels per day in February and March under a deal between the Organisation of the Petroleum Exporting Countries (OPEC) and its allies including Russia, a group known as OPEC+.
This has resulted in oil prices rising to USD 63 per barrel, the highest level in more than a year.
In 10 straight days, prices have gone up by Rs 2.93 per litre for petrol and Rs 3.14 per litre for diesel.
The relentless hike in prices has been criticised by the opposition parties including the Congress that has demanded an immediate cut in taxes to ease the burden on the common man.
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 Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
Retail petrol rates have risen by Rs 20.29 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 Rs 17.98.
