Amid the ongoing inflation and already higher fuel rates, petrol rates for the fifth time this month have breached Rs 100-mark in Delhi and Kolkata.
Fuel prices on Wednesday hit an all-time high as petrol gets costlier by 35 paise in Delhi while diesel rose by 17 paise, as per a price notification by the oil retailers.
This fresh revision in fuel rates has taken the cost of petrol to Rs 100.21 per litre in Delhi while diesel is currently at Rs 89.53. In Mumbai, petrol is being sold at Rs 106.25 per litre, whereas diesel has reached Rs 97.09 per litre.
This is the first time that the fuel is retailing above Rs 100 in all metro cities. In May Bhopal had become the first state capital to breach the Rs 100-mark in petrol prices.
Petrol now costs over Rs 100 in 16 states and UTs namely Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Ladakh, Bihar, Kerala, Tamil Nadu, Punjab, Sikkim, Delhi and West Bengal.
Diesel remains the most used fuel in India. It too has crossed the psychological mark in some places of Rajasthan, Odisha and MP. READ MORE HERE
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Moreover, Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
How fuel rates affect you?
Basically higher petrol and diesel rates lead to higher urban inflation. And people with no personal vehicle are likely to spend more due to rising petrol and diesel prices. The higher spending will be due to increased commodity prices, there will be a surge in online delivery charges and public transport. Vegetables and other items become costlier.
A rise in fuel prices directly impacts costs incurred towards essential goods. As these have to be transported over long distances.
ALSO READ: Petrol And Diesel Prices On Record High: Check Rates