Keypoints:
- Petrol is being sold above Rs 100 per litre mark in six states and Union Territories, namely Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.
- There has been a constant hike in fuel price since the beginning of May. In the last one month, diesel prices have also witnessed a sharp increase.
- In Delhi, petrol has hit an all-time high of Rs 95.85 a litre, while diesel is now priced at Rs 86.75 per litre.
Since the past few months, fuel prices continue to soar up leaving no respite for the common man. On June 12, the state-run oil marketing companies hiked the fuel price yet again. In the recent hike, petrol touched a record high of Rs.102 per litre in the city of Mumbai. In the national capital, petrol costs Rs 95.85 which is the highest ever. According to Indian Oil Corporation, on Friday, petrol has become expensive by up to 31 paise and diesel is costlier by up to 28 paise.
It is since the start of May that the fuel prices continue to soar. On May 4, state-run companies resumed daily revisions after an 18-day halt. Since then, petrol price has soared by over Rs.6 per litre. This is the 23rd hike since May 4 and 6th hike in the month of June which has taken the fuel prices across the country to a historic high.
Petrol is being sold above Rs 100 per litre mark in six states and Union Territories, namely Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh. Along with petrol, diesel prices have also witnessed a sharp increase in the past one month. In Mumbai city, a litre of diesel is being sold at ₹94.15 for a litre. On Friday, diesel price has claimed upto Rs. Rs 86.75 for a litre in Delhi.
International crude oil prices, rupee-dollar exchange rate are the factors on which the price of auto fuel in India depends upon. Furthermore, the central government, on petrol and diesel, levy various tax including excise duty and Value Added Tax (VAT) along with dealers Commission and freight charges. Petrol and diesel do not come under GST.
