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Bihar crosses Rs 100/litre petrol price after 31 hikes in 2 months

Bihar joined the list of states crossing the century mark in the rate of petrol on Sunday after the fuel prices hiked again. As such, the revised rates pushed petrol beyond the Rs 100 per litre-mark, basing the hike on international oil prices surge.

There was a 35-paise increase in petrol prices while diesel witnessed a hike of 25 paise, as per the price notification released by state-run fuel retailers.

This is the 31st hike in less than 2 months after a string of surges began on May 4th. On Saturday, petrol and diesel prices increased by 35 paise each.

The latest hike brings Bihar under the list of states who have crossed the Rs 100 mark, with Maharashtra, Telangana, Karnataka, Odisha, Ladakh, Andhra Pradesh, Madhya Pradesh, Rajasthan, Jammu and Kashmir and Tamil Nadu already a part of it. Metropolitan cities like Hyderabad, Bengaluru and Mumbai buy petrol at prices above Rs 100.

In Patna, Petrol now costs Rs 100.47 per litre while diesel comes for Rs 94.24 per litre.

In the national capital, petrol prices reached an all-time high of Rs 98.46 per litre. Diesel costs Rs 88.90 a litre in Delhi now. Mumbai buys petrol at Rs 104.56 per litre while diesel is priced at Rs 96.42.

The difference in fuel prices in states is due to the incidence of local taxes like a value-added tax (VAT) and freight charges.

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The most used fuel in India, diesel, is sold for above Rs 100 a litre in Sri Ganganagar and Hanumangarh in Rajasthan and some other places in Odisha.

The thread of hikes that brought Bihar the Rs 100-price tag of petrol was started after state-owned oil companies concluded their 18-day hiatus in rate revision that they followed during West Bengal and other states’ assembly elections.

After these 31 surges, petrol went up by Rs 8.06 per litre while diesel increased by Rs 8.37 per litre in Bihar.

Prices of petrol and diesel are revised daily as oil companies calculate them based on the average price of benchmark fuel in the international market in the last 15 days and foreign exchange rates existing in the country. With hopes for a quick recovery, international oil prices soared following an increase in fuel demand.