Diesel nears ₹100 for first time

PUMPS IN RAJASTHAN’S GANGANAGAR WERE SELLING DIESEL AT ₹99.50 A LITRE AND PETROL AT ₹106.64, THE HIGHEST IN INDIA

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 as 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, a day after the results of assembly polls in four states and a Union Territory were declared.

It took auto fuel rates to another record across the country. Petrol in Delhi was sold 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 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.

Surging international oil rates and exorbitant domestic tax structure are two key reasons for high rates of petrol and diesel.