BHOPAL: The retail price of regular petrol also breached the Rs 100 per litre mark in state’s many districts on Thursday. The fuel rates were increased for the tenth day in a row. Price of regular petrol went past Rs 100-mark in fourteen districts of the state including Rewa, Dindori, Umaria, Sheopur, Shahdol, Satna, Neemuch, Panna, Chhattarpur, Chhindwara, Shivpuri, Burhanpur, Balaghat and Alirajpur on the day. Anuppur district was the first to have breached the mark in the state. In the next few days other districts would follow the cue. In Bhopal, petrol costs Rs 98.96 per litre. While the premium petrol, which attracts higher taxes, had crossed the 100 mark a few days back, the regular petrol price following the same pattern crossed the figure in 4 districts on Thursday.
Diesel and petrol rates were hiked for the tenth day in a row. Global oil producers have to ease production cuts since higher prices are impacting demand in Asia’s third largest economy. MP levies 33 per cent plus Rs 4.5 a litre and 1% cess on petrol. On diesel, it charges 23% plus Rs 3 per litre and 1 per cent cess. Petrol pump dealers Association president Ajay Singh said, “In MP, retail price of regular petrol has breached Rs100 per litre barrier in many districts. Earlier, the retail price of premium petrol had crossed Rs 100 per liter but now even the regular petrol is being sold at Rs 100.”
The rising crude oil prices during the last few weeks are hurting the fragile global economic recovery due to significant demand contraction, which might even mirror the impact of COVID-19 in its initial stages.