It Happens Only In India, Petrol Price Ups

  • 04-Jun-2021
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Petrol Crosses Rs 100/Litre Mark In Leh, Andhra Pradesh, Telangana. 

After Rajasthan, Madhya Pradesh and Maharashtra, petrol price has crossed the Rs 100-per-litre mark in Leh, in almost all districts of Andhra Pradesh and parts of Telangana after fuel prices were again hiked on Friday.

Petrol price was increased by 27 paise per litre and diesel by 28 paise a litre, according to a price notification of state-owned fuel retailers.

The hike - 18th in the last one month - took fuel prices across the country to a historic high.

In Delhi, petrol hit an all-time high of Rs 94.76 a litre, while diesel is now priced at Rs 85.66 per litre.

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

Petrol price is well above the Rs 100-per-litre mark in all districts of Rajasthan, Madhya Pradesh and Maharashtra - the states which levy the highest value-added tax (VAT) in the country.

Retail prices have risen after an increase in international oil prices on investors' optimism that improving demand and a dwindling supply glut may mean the market can absorb any additional production from OPEC and its allies.

Brent crude - the global oil-price benchmark, has risen above USD 71 per barrel for the first time in two years.

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