Fuel prices hiked again, ninth time since May 4
New Delhi, May 16
Petrol price on Sunday was increased by 24 paise per litre and diesel by 27 paise, pushing rates across the country to record highs and that of petrol in Mumbai to near Rs 99 a litre.
Rs22 hike in a year
- The Centre in March last year raised excise duty on fuel to an all-time high
- The petrol price has since increased by a record Rs22.99 per litre
- The rate of diesel has gone up by Rs20.93 a litre
This is the ninth increase in prices since May 4 when the state-owned oil firms ended an 18-week hiatus in rate revision they observed during the Assembly elections in states like West Bengal. In nine hikes, petrol price has risen by Rs 2.19 per litre and diesel by Rs 2.49.
The increase led to rates in Delhi climbing to Rs 92.58 per litre and diesel to Rs 83.22, according to a price notification of state-owned fuel retailers.
The rates had already crossed Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, price in Mumbai too was inching towards that level. A litre of petrol in Mumbai now comes for Rs 98.88 and diesel is priced at Rs 90.40 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.
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 103.52 per litre and Rs 95.99 a litre, respectively. — PTI
