The prices of petrol and diesel were increased today for consecutive third day in this week with the former creating record by going above Rs 100/litre.
It is noteworthy that this is the seventh increase in the month of May.
The prices of both the fuels were increased by Rs 0.25 per litre in the national capital of Delhi.
At the time of writing, in Delhi petrol costs Rs 92.05 and diesel costs Rs 82.61 per litre, as per the website of Indian Oil Corporation.
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Bhopal today made a record by being the first capital city to breach the three-figure mark with the retail price of petrol at Rs 100.08. Diesel here was being retailed at 90.95.
In may be recalled that Rajasthan and Madhya Pradesh levy the highest VAT on the fuels in the nation. In these two states, petrol had breached Rs 100/litre in February this year.
Petrol and diesel attract lots of taxes from central and state government. The taxes combined make up for up to 60% of the amount you pay.
The retail prices in India are usually revised daily as per the international prices of crude oil.
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However, it must be taken in account that when the international crude oil prices were in a slump, the Modi government did not lower the prices of petrol or diesel.