Premium petrol prices breach Rs 100/ltr mark in Rajasthan, Madhya Pradesh

New Delhi, Feb. Feb 15 : Petrol prices with additives has crossed broken the psychological Rs 100 per litre mark in different parts of the country as oil marketing companies continue with their daily price hike for auto fuels in wake of heated up global oil market.
Indian Oil Corporation’s (IOCs), Xtra Premium Petrol, which a superior version of the auto fuels with additives, is being retailed now at over Rs 100 per litre in few cities in Rajasthan and Maharashtra. In Ujjain, the Extra premium petrol is priced at Rs 100.25 a litre while in Jaisalmer the same variety of petrol is priced at Rs 100.52 a litre.
In several other cities in the two states and in Madhya Pradesh, the fuel variety has either crossed Rs 100 per litre mark or is precariously close to the mark with reaching the miles atone as early as tomorrow if there is further price increase by OMCs.
Giving effect to developments in the global oil markets, OMCs have been revising the price of auto fuels – petrol and diesel, consecutively for past seven days. This has even taken the retail price of normal petrol, which is largely consumed in the country within touching distance of Rs 100 per litre mark. For example – Petrol is priced at Rs 95.46 a litre in Mumbai, Rs 96.96 in Bhopal, Rs 95.44 in Jaipur.
In the last seven days, the price has gone up by Rs 2.06 per litre for petrol while diesel rate has risen by Rs 2.56 a litre.
Officials in OMCs said that high price of petrol in few states, particularly Rajasthan, Maharashtra and Madhya Pradesh is due to higher level of state imposed duties. In addition to 33 per cent VAT, Madhya Pradesh imposes Rs4.5/litre VAT at flat rate plus 1% Cess on petrol; Maharashtra has 26 per cent VAT+ Rs 10.12/Litre additional tax on petrol while Rajasthan has 36 per cent VAT+Rs 1500/KL road development cess on petrol. These are the highest tax rates across the country.