For the first time ever, the price of petrol crossed the ₹ 100 per litre mark in Rajasthan today after fuel rates were hiked for the ninth day in a row.
According to Indian Oil Corporation data, the retail price of non-premium petrol at Ganganagar touched Rs 100.13 per litre on February 17.
The skyrocketing fuel prices in the country is because of three main reasons–rise in global crude, Centre’s excise duties, and state’s value added tax (VAT).
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On Wednesday, global oil prices fell as US dollar climbed, retreating after a two-day rally that was driven by an Arctic blast. Brent crude futures dropped 40 cents, or 0.6 per cent, to $62.95 a barrel, coming off three days of gains.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest VAT on petrol in the country.
