Bihar : Fuel sales decline in state, but prices continue to soar

An upward trend in fuel prices once again seen on Monday for a 16th time in a month. The diesel prices have gone up by Rs 4.20 per litre and petrol has become costlier by Rs 3.38 per litre in Patna since the last 30 days.

The Branded petrol known as premium or speed petrol are being sold above Rs 100 per litre in the state capital.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

Brent crude oil – the most widely used international benchmark – has risen 36 per cent this year to more than USD 70 a barrel.