Price of branded petrol has crossed Rs 100-mark in Rajasthan's Sriganganagar town as the fuel prices continue to escalate across the country. In Sriganganagar, regular petrol cost has climbed to Rs 98.40 per litre and premium or branded petrol prices have surged to Rs 101.15 a litre. Both petrol and diesel prices remained unchanged on January 28.
Petrol and diesel prices are scaling up since January 6 -- breaking all previous records. In the national capital, petrol rates climbed to Rs 86.30 per lire and diesel's stood at Rs 76.23 per litre on January 27. This is the highest-ever fuel price in Delhi.
In Mumbai, petrol touched to Rs 92.86 per litre. The price hike has a directly proportionate impact on branded petrol. For instance, branded petrol in Delhi is being sold for Rs 89.10 a litre and in Mumbai for Rs 95.61/litre.
The main difference between regular and premium fuel grades is the octane number. Regular fuel has a lower octane number i.e. 87, while premium fuel gets a 91 octane rating or higher.
Octane number is a measure of the ignition quality of fuel; the higher the number, the less susceptible is the fuel to 'knocking' when burnt in a standard engine.
The surge in international crude oil prices, the Centre's excise duty, and states' Value Added Tax (VAT) are to be blamed for skyrocketing fuel prices in the country.
Top oil explorer Saudi Arabia pledging additional voluntary output cuts and demand returning from the rollout of coronavirus vaccines has led to a surge in international oil prices.
According to Petroleum Planning and Analysis Cell (PPAC), the petrol price itself is priced at Rs 26.34 per litre. The rest are taxes, duty, and dealer's commission. Cost of petrol minus levies and commission comprise only 32 per cent of what a buyer pays at the petrol pump station. Tax and duty components (total cost minus base price and dealer's commission) on petrol in Delhi comprise around 64 per cent.
The Centre charges around Rs 32.98 (125 per cent of the base price) as excise duty. The Delhi government charges Rs 19 (72 per cent of the base price) per litre VAT on petrol. Other levies include dealer commission of around Rs 3.67 per litre.
State-owned fuel retailers -- Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) -- had resumed daily price revision after nearly a month-long hiatus on January 6.(With PTI inputs)