Petrol price up by 29 paise per litre; diesel by 26 paise a litre

By PTI
NEW DELHI: Diesel price on Monday went past the Rs 98-a-litre mark in a few places of Rajasthan as a relentless increase in fuel prices took rates to record-high levels.

Petrol price was increased by 29 paise per litre and diesel by 26 paise a litre, according to a price notification of state-owned fuel retailers. The increase – 16th this month – pushed petrol and diesel prices to a fresh all-time high across the country.

Sri Ganganagar district of Rajasthan saw petrol price climb to Rs 105.24 a litre and diesel to Rs 98.08 per litre.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.

Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra. In Delhi, petrol comes for Rs 94.23 per litre and diesel is priced at Rs 85.15 a litre.

The price of petrol, which had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the psychological barrier in Mumbai on Saturday.

Petrol now costs Rs 100.47 a litre in Mumbai and diesel comes for Rs 92.45 per litre. The increase in Monday is the 16th 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 16 increases, petrol price has risen by Rs 3.83 per litre and diesel by Rs 4.42. 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.