DIESEL NEARS ₹100 FOR THE FIRST TIME IN COUNTRY, SELLS AT ₹99.50/L
NEW DELHI: Auto fuel became costlier by 25 paise per litre on Wednesday, the 21st increase in 37 days, and pushed diesel rates close to ₹100 a litre for the first time in India -- pumps in Rajasthan’s Ganganagar were selling diesel at ₹99.50 per litre and petrol at ₹106.64, the highest in the country.
The latest price increase made petrol costlier by Rs 5.16 per litre and diesel by Rs 5.74 across the country since May 4, two days after the results of assembly polls in four states and a Union Territory were declared.
Petrol in Delhi was sold at ₹95.56 per litre on Wednesday and diesel at ₹86.47. Mumbai has the highest fuel rates among metros -- petrol costs ₹101.76 per litre and diesel ₹93.85.The unidirectional upward movement since May 4 led to petrol breaching the ₹100 mark in cities across the country, particularly in Maharashtra, Rajasthan, Andhra Pradesh, Madhya Pradesh and Karnataka.
NEW DELHI: Fuel became costlier by 25 paise per litre on Wednesday, the 21st increase in 37 days, and pushed diesel rates close to ₹100 a litre for the first time in India—pumps in Rajasthan’s Ganganagar were selling diesel at ₹99.50 per litre and petrol at ₹106.64, the highest in the country.
The latest price increase made petrol costlier by ₹5.16 per litre and diesel by ₹5.74 across the country since May 4, two days after the results of assembly polls were declared.
It took auto fuel rates to another record across the country. Petrol in Delhi was retailing at ₹95.56 per litre on Wednesday and diesel at ₹86.47 a litre. While fuel rates in Delhi are the benchmark for the entire country, retail prices of the two fuels differ from place to place because of variations in state taxes and local levies.
The upward movement since May 4 led to petrol breaching the ₹100 mark in cities across the country, particularly in Maharashtra, Rajasthan, Andhra Pradesh, Madhya Pradesh and Karnataka.
Mumbai has the highest fuel rates among the metros: ₹101.76 for a litre of petrol and ₹93.85 for diesel.
Indian fuel retailers align pump prices of petrol and diesel with international benchmark rates of the previous day. Benchmark Brent crude was up at $72.63 per barrel in early trades on Wednesday.
Pump prices of fuels are also high because of taxes. In Delhi, central levies account for 34.8% of petrol price and state taxes, 23.08%, according to official data of June 1.
In the case of diesel, central taxes account for 37.24% , and state taxes, 14.64%. Through 2020, as global crude prices fell, the central government raised excise duty on the fuel to shore up its finances. States too followed suit—with revenues hit on account of the coronavirus pandemic.