The impact of the ongoing conflict between America and Iran can be seen all over the world. This conflict has had the biggest impact on the prices of CNG, LPG, petrol and diesel. Petrol prices in the country are increasing faster than the prices of vehicles. The current situation is such that petrol prices have been increased for the third time in the last eight days.
It is important to mention that the price of petrol was increased by ₹3 per liter on May 15, by 90 paise on May 19 and by 87 paise on May 23. At present, the price of petrol has exceeded ₹ 100 per liter in most states. However, the price of petrol in Arunachal Pradesh and Andaman and Nicobar Islands is still less than ₹100.
According to recent reports, the highest price of petrol has been recorded in Andhra Pradesh, where it has reached ₹117.88 per litre. In contrast, the lowest prices were recorded in Arunachal Pradesh at ₹97.70 per liter and Andaman and Nicobar Islands at ₹88.66 per litre. Due to lower tax rates, people in these areas get discounted petrol prices compared to other states – reflecting the disparity in fuel prices across the country.
**Why do prices differ?**
Actually, the main reason for the increase in petrol prices is the taxes imposed by different states. These taxes, in turn, impact logistics costs and dealer commissions. Given that the tax is collected in several phases, petrol prices are bound to increase. As a result, if this trend continues, petrol will become more expensive across the country.
**Prices more than ₹100 per liter in many states**
According to a recent report, Andhra Pradesh is the state that has seen the highest increase in petrol prices. Apart from this, petrol prices have now crossed ₹100 per liter in states like Telangana, Kerala, Madhya Pradesh, West Bengal, Delhi, Uttar Pradesh, Uttarakhand, Gujarat and Maharashtra. This situation further highlights the disparity that exists in fuel prices across the country. According to experts, since the end of February till now, global prices of crude oil have increased by more than 50 percent. The reason for this is tension in West Asia and fears of interruption in supplies through the Strait of Hormuz.
