Fuel prices at all-time high: Petrol crosses ₹100 in Leh, ₹97 in Srinagar; highest ₹105.81 in Rajasthan

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 costs Rs 100.43 a litre in Leh. In Srinagar, it was selling at Rs 97.92 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.

Following the relentless price increase, fuel rates in places like Andhra Pradesh, Telangana and Leh have witnessed unprecedented levels.

Petrol is sold at over Rs 100 per litre in almost all districts of Andhra Pradesh, except Vizag where it costs 99.75 a litre. Diesel in Vizag is priced at Rs 94.08 per litre.

In Telangana, petrol prices crossed the psychological level in Adilabad (Rs 100.57) and Nizamabad (Rs 100.17).

The increase on Friday is the 18th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.

In 18 increases, petrol price has risen by Rs 4.36 per litre and diesel by Rs 4.93 a litre.
Rates are at the highest in the country in Sri Ganganagar district of Rajasthan where petrol comes for Rs 105.81 a litre and diesel for Rs 98.64 per litre. Madhya Pradesh’s Shahdol district has petrol priced at Rs 105.18 a litre and diesel at Rs 96.31.