Hyderabad on Monday registered its name in the list of places selling fuel at a record high price of over a hundred rupees. The price hike, 24th in the past 6 weeks, has made Hyderabad became the second metro city in the country to reach this mark. Petrol in the city is now priced at Rs 100.20 per litre and diesel at Rs 95.14 per litre.
Mumbai was the first metro city to enter the record high on May 29, with petrol costing Rs 102.58 per litre and diesel at Rs 94.70 per litre.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. It is because of this that petrol is selling at over Rs 100 per litre mark in 7 states and Union Territories currently, namely Madhya Pradesh, Andhra Pradesh, Maharashtra, Telangana, Ladakh, Rajasthan and Karnataka.
Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh, and Telangana.
Various districts of Telangana saw this hike in the start of June, making the petrol prices cross the Rs 100, but it was only on Monday that the state capital became a part of it.
Sri Ganganagar district of Rajasthan near the India-Pakistan border was the first place in the country to see petrol hitting Rs 100 a litre mark in mid-February. Last Saturday it also earned the distinction of diesel crossing that historic mark. Petrol in the city is now sold at Rs 107.53 a litre - the highest rate in the country, and diesel comes for Rs 100.37.
Rates of petrol and diesel are daily revised by oil companies based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
International oil prices have firmed in recent weeks in anticipation of demand recovery following the rollout of vaccination programme by various countries.