Price of petrol in Indore city stood at the highest ever Rs 90.23 per litre, a hike of 0.22 paise from yesterday's price. The price has been creeping up and in the last 10 days it has gone up from Rs 89.06 per litre (Nov 21) to Rs 90.23 on Sunday; a jump of Rs 1.17 per litre. "This is the second time this year that the price of petrol has crossed Rs 90 per litre, but Sunday's price is the highest price recorded for the city," said the president of Indore Petrol and Diesel Dealers Association, Rajendra Singh Vasu.
Vasu said that the international price of crude oil is creeping up and added to it is the VAT imposed by the state. "The VAT is imposed by the state government and it appears reluctant to reduce it. If the government wants to give relief to the common man, then it must cut down the VAT," Vasu added.
According to official figures, Madhya Pradesh has one of the highest VAT rate in the country, which stands at 33 per cent, while VAT in Maharashtra (apart from Mumbai and Thane) is 25 per cent, while it is 30 per cent in Rajasthan. Earlier in June, an additional cess was levied on petrol and diesel by the Madhya Pradesh government @ Rs 3.50 and Rs 2 respectively. After the increase, the additional cess on petrol and diesel has gone up to Rs 4.50 and Rs 3 respectively. The state government expected an additional revenue of Rs 200 crore from petrol and Rs 370 crore from diesel annually after the hike.
Petrol and diesel prices increased for the 8th consecutive day, know today's price
Crude Oil Prices climb 3-Month High On Vaccine race
Fuel Prices Rise vertically As Brent Crude Tops USD48 Levels