Petrol, Diesel Rate today: The price rise of petrol diesel is gradually becoming uncontrollable. On Tuesday, the prices were increased for the second consecutive day on behalf of the government oil marketing companies. With this, for the first time in the capital Delhi, the price of petrol reached Rs 85 per liter. At the same time, diesel has also reached the record height. According to the notification issued by the oil companies, the prices of petrol and diesel have been increased by 25 paise per liter. With this, the price of petrol in Delhi was Rs 85.20 per liter and in Mumbai it was Rs 91.80 per liter. After the revision in prices, the price of diesel is Rs 75.38 per liter in Delhi and Rs 82.13 per liter in Mumbai. On Monday, the price of petrol and diesel was increased by 25 paise per liter. The thing to note is that earlier when the price of oil reached the record top in October 2018, the government had cut excise duty.
Price on record top in Mumbai
Petrol and diesel prices in Mumbai are at record highs. While the price of petrol in Delhi has crossed Rs 85 per liter for the first time. Diesel in Delhi was at Rs 75.45 per liter on October 4, 2018. At the same time, petrol in Kolkata was recorded at Rs 86.63 per liter and diesel Rs 78.97 per liter on Tuesday. Whereas, one liter petrol in Chennai was sold for Rs 87.85 and diesel for Rs 80.67. Let us tell, based on the price and foreign exchange rate in the global market, oil companies regularly review the prices of petrol and diesel. The price of oil changes in different states depending on the difference of local tax, usually VAT.
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Petrol and diesel cost Rs 1.50 in 14 days
Government oil marketing companies Indian Oil Corporation Limited (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) started a daily review of prices on January 6, almost a month later. Since then, the price of petrol has increased by Rs 1.49 and diesel by Rs 1.51 per liter.
The government will reduce excise duty?
Since the introduction of the corona vaccine in many countries of the world, including India, oil prices are rising in the global market in the hope of increasing demand. Earlier on 4 October 2018, when the oil price reached the record top, that speaker had cut excise duty on petrol and diesel by Rs 1.50 per liter. Apart from this, oil companies also reduced the prices of oil by one rupee per liter. This time, despite the uncontrolled inflation of petrol and diesel, no steps have been taken by the government to cut excise duty.