The prices of petrol and diesel have increased for the second consecutive time in the country today. According to the price notification of the public sector petroleum companies, the price of petrol has been increased by 28 paise per liter and that of diesel by 27 paise per liter. Now the price of one liter of petrol in Delhi has gone up to Rs 95.31 and that of one liter of diesel to Rs 86.22.
With this, petrol has now reached a historic high in different parts of the country. Petrol has crossed Rs 100 per liter in six states and union territories including Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.
Rajasthan levies the highest VAT on petrol and diesel in the country. After that the number of Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana comes. Mumbai is the first metropolis in the country, where petrol reached above Rs 100 per liter on 29 May. At present, petrol in Mumbai is Rs 101.52 and diesel is Rs 93.58 per liter.
Petrol, diesel prices have increased for the 21st time after May 4 this year. During this, the price of petrol has increased by Rs 4.96 and that of diesel by Rs 5.55 per liter. Oil companies fix prices in the domestic market daily on the basis of the average of the last 15 days’ prices in the international market.
Fuel prices vary across states due to local taxes such as value-added tax (VAT) and freight charges. Retail prices of vehicle fuels are going up due to the rise in international crude oil prices. Investors expect the market to be able to use the surplus production from OPEC and its allies due to rising demand. Brent crude oil has currently reached near $ 72 per barrel. It has reached this level for the first time in two years.