INSUBCONTINENT EXCLUSIVE:
Rajasthan, now even diesel is nearing the century mark in the state, as oil firms raised fuel prices yet again on Monday.Petrol price was
hiked by 28 paise per litre and diesel by 27 paise, according to a price notification of state-owned fuel retailers.The hike - the 21st
since May 4 - took fuel prices across the country to historic highs.Petrol is retailing above the Rs 100 per litre mark in six states and
union territories - Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana and Ladakh.In Delhi, petrol hit an all-time high of Rs
95.31 a litre, while diesel is now priced at Rs 86.22 per litre.Fuel prices differ from state to state depending on the incidence of local
taxes such as value added tax or VAT and freight charges.Sri Ganganagar district of Rajasthan near the border with Pakistan has the
international oil prices on investors' optimism that improving demand and a dwindling supply glut may mean the market can absorb any
additional production from OPEC and its allies.Brent crude, the global oil price benchmark, is nearing $72 per barrel for the first time in
two years.Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and
Telangana.Mumbai on May 29 became the first metro in the country where petrol was being sold at over Rs 100 a litre
Petrol now costs Rs 101.52 in the city and diesel comes for Rs 93.58.Oil companies revise rates of petrol and diesel daily based on the
average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
