Petrol, diesel prices at record highs; crosses ₹100-mark in Maharashtra
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This is the second time this yr that charges in some elements have crossed the ₹100-a litre mark
Petrol and diesel prices on Monday hit record highs throughout the nation after charges had been elevated for the fifth time in every week, following which Maharashtra joined Rajasthan and Madhya Pradesh in the league of states the place petrol charges breached the ₹100-a-litre mark.
Petrol worth was hiked by 26 paise a litre and diesel by 33 paise per litre, in response to a worth notification by state-owned gasoline retailers.
This was the fifth enhance in prices since May 4, when the state-owned oil corporations ended an 18-hiatus in price revision throughout meeting elections in states like West Bengal.
The enhance took petrol and diesel prices to their highest-ever stage. In Delhi, petrol now comes for ₹91.53 per litre and diesel is priced at ₹82.06 per litre.
While petrol prices had crossed the ₹100-mark in some locations in Rajasthan and Madhya Pradesh a couple of days again, Maharashtra’s Parbhani joined the league on Monday. Petrol in Parbhani was priced at ₹100.20 a litre, whereas in Bhopal it got here for₹ 99.55 a litre.
The gasoline is bought at ₹102.42 a litre in Sri Ganganagar district of Rajasthan and at ₹ 102.12 in Anuppur of Madhya Pradesh.
This is the second time this yr that charges in some elements have crossed the ₹100-a litre mark. Rates had breached the physiological mark for the primary time in mid-February.
Fuel prices differ from state to state relying on the incidence of native taxes reminiscent of VAT and freight prices. Rajasthan levies the best value-added tax (VAT) on petrol in the nation, adopted by Madhya Pradesh.
In 5 will increase in the final one week, petrol worth has risen by ₹1.14 per litre and diesel by ₹1.33 — greater than neutralising all the discount that got here between March 24 and April 15.
After elevating petrol worth by a record ₹21.58 per litre and diesel by ₹19.18 for the reason that authorities raised excise responsibility to an all-time excessive in March final yr, state-owned gasoline retailers, IOC, BPCL and HPCL had lowered petrol worth by 67 paise a litre and diesel by 74 paise per litre effected between March 24 and April 15.
Oil corporations, who’ve in latest months resorted to unexplained freeze in price revision, had hit a pause button after chopping prices marginally on April 15. This coincided with electioneering hitting peak to elect new governments in 5 states together with West Bengal.
No sooner had voting ended, oil corporations indicated an impending enhance in retail prices in view of firming developments in worldwide oil markets.
They mentioned prices have been on a steady uptrend since April 27, crude oil worth is hovering close to USD 70-per-barrel mark.
Central and state taxes make up for 60 per cent of the retail promoting worth of petrol and over 54 per cent of diesel. The union authorities levies ₹32.90 per litre of excise responsibility on petrol and ₹31.80 on diesel.
In Mumbai, the petrol worth was hiked to ₹97.86 a litre on Monday from ₹97.61, whereas diesel charges had been elevated to Rs 89.17 from R₹88.82, the value notification confirmed.
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