Diesel price today breached the ₹ 100 per litre mark in Rajasthan after yet another increase in fuel rates, which also led to Karnataka becoming the 7th state to record ₹ 100 a litre petrol. Petrol price was hiked by 27 paise per litre and diesel by 23 paise, according to a price notification of state-owned fuel retailers.
The hike – the 23rd one since May 4 – pushed fuel prices across the country to new historic highs. In Delhi, petrol hit an all-time high of ₹ 96.12 a litre, while diesel is now priced at ₹ 86.98 per litre. Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.
And because of this petrol retails at over ₹ 100 per litre mark in six states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh. Karnataka got added to that list with many places in the state including Bidar, Bellary, Koppal, Davanagere, Shimoga and Chakmangalur recording over ₹ 100 per litre petrol. Petrol in the state capital Bengaluru is priced at ₹ 99.39 per litre and a litre of diesel comes for ₹ 92.27.
Sri Ganganagar district of Rajasthan near the India-Pakistan border was the first place in the country to see petrol hit ₹ 100 a litre mark in mid-February and on Saturday it also earned the distinction of diesel crossing that psychological mark.
Petrol in the city is sold at ₹ 107.22 a litre – the highest rate in the country, and diesel comes for ₹ 100.05. Premium or additive laced petrol in the town sells for ₹ 110.50 a litre and same grade diesel at ₹ 103.72.
Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Mumbai on May 29 became the first metro in the country where petrol was being sold at over ₹ 100 a litre. Petrol now costs ₹ 102.30 a litre in the city and diesel comes for ₹ 94.39.
After Leh, Srinagar too is witnessing near ₹ 100 a litre petrol (Rs 99.27). Hyderabad too is in the same league with petrol costing ₹ 99.96. Petrol sells for ₹ 101.73 a litre in Leh and diesel costs ₹ 93.66.
The hike on Saturday was the 23rd increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal. In 23 increases, petrol price has risen by ₹ 5.72 per litre and diesel by ₹ 6.25 a litre.
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.
International oil prices have firmed in recent weeks in anticipation of demand recovery following the rollout of vaccination programme by various countries.