Image Source : PTI Fuel Price Today: Petrol, diesel costs at contemporary highs as charges up for 2nd straight day
Petrol and diesel costs on Wednesday scaled new highs within the nation as charges had been hiked for the second day in a row. Petrol worth was hiked by 30 paise per litre and diesel by 25 paise a litre, in keeping with a worth notification of state-owned gas retailers.
The enhance took petrol worth to an all-time excessive of Rs 87.60 a litre in Delhi and to Rs 94.12 in Mumbai. Diesel charges rose to Rs 77.73 per litre within the nationwide capital and to an all-time excessive of Rs 84.63 in Mumbai. Rates differ from state to state relying on the native incidence of taxation (VAT) and freight.
Oil Minister Dharmendra Pradhan in Rajya Sabha stated the federal government just isn’t contemplating a discount in excise obligation to chill charges from their file highs.
Rates have risen as worldwide oil costs crossed USD 61 per barrel for the primary time in additional than a 12 months on enhancing demand outlook amid the worldwide rollout of COVID-19 vaccines, he stated on Wednesday.
Central and state taxes make up for over 61 per cent of the retail promoting worth of petrol and about 56 per cent of diesel. Fuel charges had gone up by 30 paise per litre every on Tuesday. So far this 12 months, costs have risen by Rs 3.89 per litre in case of petrol and by Rs 3.86 on diesel.
Last week, Mukesh Kumar Surana, head of India’s third-largest gas retailer Hindustan Petroleum Corporation Ltd (HPCL) had stated that oil corporations have little deal with to regulate retail costs. Bharat Petroleum Corporation Ltd (BPCL) Director (Finance) N Vijayagopal on Tuesday had voiced an identical opinion. Relief to customers can come from a minimize in authorities taxes, they stated.
Retail petrol charges have risen by Rs 18.01 per litre since mid-March 2020 after the federal government raised taxes by a file margin to mop up features arising from fall in worldwide oil costs. Diesel charges have gone up by Rs 15.44.
(With PTI inputs)
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