Petrol and diesel price unchanged for straight 8th day

Petrol and diesel prices remained unchanged for eighth day on Wednesday. The last change to the motor fuel prices was made in March. Since, then the prices of both the motor fuels have remained unchanged.

In Delhi, per litre petrol and diesel prices are ₹90.56 and ₹80.87, respectively. In Mumbai, Chennai, and Kolkata, petrol prices are ₹96.98, ₹92.58 and ₹90.77 respectively for a litre. On the other hand, diesel in these three cities are priced at ₹87.96, ₹85.88 and ₹83.75, respectively for a litre.

In March 2021, petrol and diesel prices were cut three times resulting in petrol becoming cheaper by 61 paise per litre and diesel prices were reduced by 60 paise per litre.

In the last one year, petrol prices have gone up by a record ₹21.58 per litre, while diesel prices have increased by ₹19.18 a litre. The surge in petrol and diesel prices are majorly attributed to the increasing rate of crude oil in the international market. Also, the high rate of tax by central and state governments play key role in the price hike for the petrol and diesel.

The central government makes up for ₹32.98 per litre of the price of petrol in Delhi and sales tax or VAT of the state government constitutes ₹19.55. In case of diesel, the central excise adds up to ₹31.83 and VAT to ₹10.99. Besides that, the fuel prices also include a dealer commission of a minimum ₹2.6 per litre on petrol and ₹2 on diesel. Overall, the central and state government taxes contribute around 60% of the retail price.

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