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Gasoline at Rs 102 mark in Rajasthan, Madhya Pradesh after 4th consecutive day of price increase, Energy News, ET EnergyWorld

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New Delhi: Gasoline prices rose to 102 rupees per liter in some parts of Rajasthan and Madhya Pradesh on Friday after prices rose for the fourth straight day after ending a more than two-week hiatus during parliamentary elections in states like West Bengal. On Friday, the price of gasoline was raised by a steep 29 Paise per liter and the diesel price by 31 Paise per liter, according to a price announcement from state fuel dealers.

This increased the price of gasoline in Delhi to Rs 91.27 per liter and the price of diesel to Rs 81.73.

In the Sri Ganganagar district of Rajasthan, gasoline reached 102.15 rupees per liter, oil company prices showed.

In Anuppur, Madhya Pradesh, gasoline is now Rs 101.86 while the price in Parbhani, Maharashtra is Rs 99.95 per liter.

This is the second time this year that rates have exceeded 100 rupees in some parts – they had exceeded physiological mark for the first time in mid-February.

Fuel prices vary from state to state based on local taxes such as sales tax and freight charges. Rajasthan has the highest Value Added Tax (VAT) on gasoline in the country, followed by Madhya Pradesh.

Friday marked the fourth day in a row that gasoline and diesel prices rose as state fuel retailers ended an 18-day hiatus on tariff revision during parliamentary elections.

Within four days, the price of gasoline has increased by 88 Paise per liter and the price of diesel by Re 1, which neutralized the entire reduction between March 24th and April 15th.

After the gasoline price rose by a record 21.58 rupees per liter and the diesel price rose by 19.18 rupees since the government raised excise tax to an all-time high in March last year, state fuel retailers – IOC, BPCL and HPCL had – Petrol reduced by 67 paise per liter and diesel by 74 paise per liter between March 24th and April 15th.

Oil companies, which had resorted to an inexplicable freeze on the rate revision in recent months, paused on April 15 after cutting prices slightly.

As soon as the vote was over, the oil companies indicated an imminent rise in retail prices, given the consolidating trends in the international oil markets.

They said prices have seen a steady upward trend since April 27th. The price of crude oil is hovering near $ 70 a barrel.

Central and state taxes make up 60 percent of the retail price of gasoline and over 54 percent of diesel. The union government charges Rs 32.90 per liter of excise duty on petrol and Rs 31.80 on diesel.

In Mumbai, the price of gasoline was raised from 97.34 to 97.61 rupees per liter on Friday, while diesel tariffs were increased from 88.49 to 88.82 rupees, the price report showed.

Branded gasoline or gasoline with additional cords, which incur higher taxes, is at record levels in places with higher taxes.

In Sriganganagar such gasoline costs 105.43 rupees per liter, while diesel of similar quality has a price of 98.05 rupees per liter. Normal diesel costs Rs 94.38 per liter in Sriganganagar.

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