In a first, petrol ₹100/litre in Raj

NEW DELHI/JAIPUR: The price of petrol touched ₹100 a litre in a Rajasthan district and rose to record highs elsewhere, even as Prime Minister Narendra Modi criticised the governments that came before his for not doing enough to address India’s dependance on imports for oil, and petroleum minister Dharmendra Pradhan appealed to major oil producers to relax their self-imposed production cuts.

The retail price of petrol crossed ₹100 per litre in Rajasthan’s Sri Ganganagar on Wednesday, the first time the fuel was sold at rates in the three digits anywhere in the country, as rising global crude oil prices and tight fiscal headroom appeared to limit the government’s ability to restrain the spike. In Delhi, petrol retailed at ₹89.54 a litre.

The government has urged the oil producers’ cartel – the Organisation of Petrol Exporting Countries (OPEC) – as well as allies such as Russia to ease production cuts as higher prices are hitting demand and adding to inflation.

“We witnessed the largest oil supply cut in history to match the massive global demand destruction ever... With the advent of Covid-19 vaccines and a better understanding of the pandemic, we are now witnessing the revival of economies and energy demand. We have to build back better collectively...,” petroleum minister Dharmendra Pradhan said at an international symposium attended by officials from several oil producing nations as well as representatives of the International