Mumbai Today: Petrol and diesel prices hit record highs across the country on Monday, this is for the fifth time in a week that the Fuel prices have changed. Following this, Maharashtra joined the club with Rajasthan and Madhya Pradesh, where petrol prices are touching the Rs.100 mark.

According to Indian Oil, petrol prices in Delhi were increased by 26 paise and Diesel got increased by 33 paise. Therefore, the current rates for petrol and diesel in the capital city are ₹ 91.53/L and ₹ 82.06/L respectively.Maharashtra’s Parbhani is the state where the Petrol price was reported to be ₹100.20 a litre. Mumbai is also not far behind in the race, as petrol was retailed at ₹ 97.86/L and diesel for ₹ 89.17/L. In the 100-mark club, the Sri Ganganagar district of Rajasthan sells fuel at ₹ 102.42/L and Anuppur town of MP is selling at ₹ 102.12/L.

List of Fuel Prices of Top 4 States in 2021

Citypetro (per litre) Diesel (Per litre)
Delhi Rs 91.53 Rs 82.06
MumbaiRs 97.86Rs 89.17
ChennaiRs 93.38Rs 86.96
KolkataRs 91.66Rs 84.90
Source: Indian Oil Corporation

Hike of Fule Prices Due to Multiple Taxes

Notably, fuel prices are different in various states due to multiple factors such as local taxes, VAT, and freight charges. Reportedly, Rajasthan levies the highest VAT on petrol in the country, next in the line is Madhya Pradesh.
Major Oil Companies in India have resorted to inexplicable freeze in revising the fuel prices, after cutting price marginally on the 15th of April.

Fuel Prices of petrol and diesel in Maharashtra and India
Photo by sergio souza on Pexels.com

This freeze in rates also coincided with the assembly elections in states like West Bengal, Assam, Kerala. Soon after the result declaration, once again prices shot up. An increase in retail prices after this break has a lot to do with the trends in the international oil market. Reportedly, the prices are following an uptrend trajectory since April 27. Crude oil price is somewhere around the USD 70/per barrel mark.

60 per cent of the retail selling price of petrol and around 54 per cent of diesel comes under the shade of Central and state taxes. Plus, an excise duty of Rs. 32.90/L and 31.80/L are imposed by the Union Government on petrol and diesel respectively.

Emad Masroor

By Emad Masroor

Emad Masroor is a student of Business Management. Primarily, he writes pieces on Global Politics, Business Trends, and Technology.

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