Petrol and diesel prices were revised for the tenth day in a row on Thursday, leading to price of petrol crossing Rs 100 per litre in some cities in Madhya Pradesh and Rajasthan, while it is on its way to touch the triple-digit mark in some other cities.
The fuel rates were increased by 32-34 paise per litre across metros, as per the price notification issued by state-owned oil marketing companies.
In Rajasthan's Sri Ganganagar, a litre of petrol costs Rs 100.49, while the rate is higher for premium variants. Similarly, petrol costs Rs 99.85 per litre in Hanumangarh in the state, while the per litre price is Rs 98.67 in Jaisalmer, with the premium variant crossing Rs 100 mark.
In Madhya Pradesh, petrol price crossed Rs 100 mark in Nagarabandh, with the fuel selling at Rs 100.76 per litre, while premium variant is being sold at Rs 103.68. The situation is similar in other cities of the state.
In Alirajpur, the fuel costs Rs 99.45 per litre, while the rate is Rs 99.43 in Burhanpur. While petrol costs Rs 99.92 in Rewa, it costs Rs 99.51 in Panna. In Satna, petrol is being sold at Rs 99.77 per litre, while in Shivpuri and Umaria it costs Rs 99.07 and Rs 99.34 per litre, respectively. In Chhindwara, one litre of fuel costs Rs 99.58, while it costs Rs 99.06 in Seoni.
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The rise in fuel prices is a politically sensitive issue in the country. The opposition, including the Congress party, has criticised the relentless hike in fuel prices and called for slashing taxes to alleviate the burden on the common man. Petrol and diesel are heavily taxed by both state and central governments.
Fuel rates have been on an upward swing across the country, touching all-time highs due to rising global crude oil prices, high central and state levies, and tight fiscal headroom that has limited the government's ability to check the spike.
Fuel prices in India are determined on the basis of international crude oil prices and foreign exchange rates. On Thursday, Brent crude future contracts for April were trading 0.08 per cent higher at $64.39 in the international market.
Meanwhile, the government has urged oil producers' cartel, the Organisation of Petroleum Exporting Countries (OPEC), as well as its allies such as Russia to alleviate production cuts as higher prices are affecting demand and adding to inflation.
"The price-sensitive Indian consumers are affected by rising petroleum product prices," Oil Minister Dharmendra Pradhan said ahead of March 4 policy-setting meeting of OPEC and allies, known as OPEC+.
However, during the Budget session, Pradhan had informed the Parliament that the Centre is not mulling a reduction in excise duty to ease prices from their record highs.
Also read: Petrol price hits century: PM Modi lambasts previous govts for not reducing import dependence
Also read: India urges OPEC+ to relax production cuts amid higher petrol prices