Fuel rates soar for fourth consecutive day in India, petrol in Madhya Pradesh retailing highest
People protesting against the price hike of petrol and diesel in Kolkata
The petrol and diesel prices continued to soar for the fourth consecutive day on Sunday, with the fuel rates retailing in India’s Madhya Pradesh state retailing highest in the country.
In the central state, petrol was selling at Rs 121.52 (US $1.6) per litre and diesel coming for Rs 112.44 (US $1.49) a litre.
On Sunday, the oil marketing companies increased petrol and disel prices by 35 paise per litre. With this petrol prices in Delhi reached Rs 109.34 (US $1.45) per litre while diesel is now retailing at Rs 98.07 ($1.31) per litre in the national capital.
In India’s financial hub Mumbai city, petrol costs Rs 115 (US $1.53) per litre.
Prices differ from state to state, depending on the incidence of local taxes and the cost of transportation.
The fuel rates were stable for two days, after which they have been on a rise for four days.
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While petrol has already hit the Rs 100-a-litre mark or more in all major cities of the country, diesel has touched that level in over one-and-a-half dozen states. Diesel rates crossed that level in places ranging from Jalandhar in Punjab to Gangtok in Sikkim.
The twin factors led to petrol price crossing Rs 120 a litre mark in places such as Panna, Satna, Rewa, Shahdol, Chhindwara and Balaghat in Madhya Pradesh.
The same level has also been crossed in two border towns of Rajasthan - Ganganagar and Hanumangarh.
Meanwhile, the government's collection from levy of excise duty on petroleum products has risen 33 per cent in the first six months of the current fiscal when compared with last year and is 79 per cent more than pre-Covid levels, official data showed.
Data available from the Controller General of Accounts (CGA) in the Union Ministry of Finance showed excise duty collections during April-September 2021 surging to over Rs 1.71 billion, from Rs 1.28 billion crore mop-up in the same period of the previous fiscal.
Thanks to a steep hike in excise duty rates, the collection is 79 per cent more than Rs 95 billion mop-up in April-September 2019.
(With inputs from agencies)