Petrol Prices Go Up For 15th Day, Diesel Price Hits Record High

Petrol Price Hike News

The process of increasing the prices of petrol and diesel continued for the 15th consecutive day on Sunday. While the cost of gasoline has increased by 35 paise per liter, diesel prices have increased by 60 paise per liter. With this, the cost of diesel in Delhi has reached a new record level of Rs 78.27 per liter. In this way, the amount of diesel has been increased by Rs 8.88 per liter in 15 days, while petrol has become expensive by Rs 7.97 per liter.

According to the price notification of petroleum marketing companies, now the price of petrol in Delhi has increased from Rs 78.88 per liter to Rs 79.23 per liter. At the same time, diesel has increased from Rs 77.67 per liter to Rs 78.27 per liter. Vehicle fuel prices have increased across the country. However, this increase varies in different states due to local sales tax or value-added tax (VAT).

Taxes account for about two-thirds of the retail price of fuel. In the case of petrol, the share of taxes is Rs 50.69 per liter or 64 percent. There is a central excise duty of Rs 32.98 and local sales tax or VAT of Rs 17.71. The share of taxes in the retail price of diesel is about 63 percent. It costs Rs 49.43 per liter. There is a central excise duty of Rs 31.83 and VAT of Rs 17.60. In Mumbai, the price of petrol has increased to Rs 86.04 per liter and diesel to Rs 76.69 per liter.

Petrol Prices At Two-Year High

Petroleum marketing companies had started revising fuel prices daily on June 7, according to the cost. This is the 15th consecutive increase in fuel prices since then. Last 82 days, petroleum marketing companies had stopped the price revision. Now diesel prices have reached their all-time high. At the same time, petrol prices have also reached a two-year high.

Earlier, on October 16, 2018, the price of diesel in Delhi reached an all-time high of Rs 75.69 per liter. Now diesel prices have left this record behind. Petrol prices in Delhi reached an all-time high of Rs 84 per liter on October 4, 2018.