Fuel Price Hike: Petrol, diesel get dearer by 26-29 paise | Check latest rates in your city here
New Delhi | Jagran Business Desk: Day after keeping the fuel rates unchanged, the oil marketing companies (OMCs) on Monday morning once again hiked the petrol and diesel prices across the country, giving another setback to lakhs of salaried class people across the country.
On Monday, the OMCs hiked petrol prices by Rs 0.28 to Rs 0.29 while diesel became dearer by Rs 0.26 to Rs 0.28 across the country. Now, one litre of petrol will cost Rs Rs 94.23 in Delhi while diesel is priced at Rs 85.15 a litre.
In Mumbai, petrol and diesel are priced at Rs 100.47 and Rs 92.45 respectively while in Kolkata, you can purchase them for Rs 94.25 and Rs 87.74 respectively. In Chennai, a litre of petrol will cost Rs 95.76 and that of diesel would cost Rs 89.90.
Fuel prices vary from state to state and union territories (UTs) as most of them charge value-added tax (VAT) accordingly. The Rajasthan government charges the highest VAT of petrol and diesel rates, followed by Madhya Pradesh and Maharashtra.
Here it is important to mention that 60 per cent of retail price of petrol is due to different taxes charged by the Centre and state governments. In case of diesel, that is 54 per cent of the retail selling price.
Why fuel prices are rising in India?
Since the election commission declared the assembly election results of four states -- West Bengal, Tamil Nadu, Kerala and Assam -- and UT of Puducherry on May 2, petrol and diesel have got costlier by Rs 3.83 and Rs 4.42 per litre respectively.
One of the main reason for such a hike is the crude oil rates in international market as India depends on imports to meet its need. So whenever, crude oil prices in international market rise, OMCs in India also hike the rates. Currently, global crude prices are hovering around USD 70 a barrel mark which might force the OMCs to revise the rates again.
Posted By: Aalok Sensharma