Fuel prices hiked for 4th day, petrol crosses ₹102/lt

Petrol worth on Friday scaled to 102 per litre in some components of Rajasthan and Madhya Pradesh after charges had been raised for the fourth straight day after ending of greater than two-week-long hiatus throughout meeting elections in states like West Bengal.

On Friday, petrol worth was hiked by a steep 29 paise per litre and diesel by 31 paise a litre, based on a worth notification by state-owned gas retailers.

This took the worth of petrol in Delhi to 91.27 per litre and that of diesel to 81.73. In Sri Ganganagar district of Rajasthan, petrol touched 102.15 a litre, costs from oil corporations confirmed.

In Anuppur of Madhya Pradesh, petrol now prices 101.86 whereas it’s priced at 99.95 a litre in Parbhani, Maharashtra.

That is the second time this yr that charges in some components have crossed the 100 mark—that they had breached the physiological mark for the primary time in mid-February.

Gas costs differ from state to state relying on the incidence of native taxes resembling VAT and freight prices. Rajasthan levies the very best value-added tax (VAT) on petrol within the nation, adopted by Madhya Pradesh. Friday was the fourth straight day when costs of petrol and diesel had been hiked since state-owned gas retailers ended an 18-day hiatus in charge revision throughout meeting elections.

In 4 days, petrol worth has elevated by 88 paise per litre and diesel by 1—neutralising the entire discount that got here between March 24 and April 15.

After elevating petrol worth by a file 21.58 per litre and diesel by 19.18 because the authorities raised excise responsibility to an all-time excessive in March final yr, state-owned gas retailers—IOC, BPCL and HPCL—had lowered petrol worth by 67 paise a litre and diesel by 74 paise per litre effected between March 24 and April 15.

Oil corporations, who’ve in latest months resorted to unexplained freeze in charge revision, had hit a pause button after slicing costs marginally on April 15. This coincided with electioneering hitting peak in 5 states together with West Bengal.

No sooner had voting ended, oil corporations indicated an impending improve in retail costs in view of firming developments in worldwide oil markets.

They mentioned costs have been on a steady uptrend since April 27. Crude oil worth is hovering close to $70 per barrel mark.

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