Petrol and diesel prices once again increased in India. This is the fourth time this week that petrol and diesel prices increased in the Country.
On the 23rd of January, the prices touched a new high with a hike of 0.25 paise per litre.
The price notification from oil marketing companies informed, petrol price rise in Delhi, Mumbai and Hyderabad.
In Delhi the petrol price is Rs. 85.70 per litre and in Mumbai the price is Rs. 92.28.
Diesel rate climbed to Rs. 75.88 a litre and Rs. 82.66 per litre in Delhi and Mumbai, respectively.
The price of one litre of petrol in Kolkata, and Hyderabad has surged to Rs 92.04/litre, Rs 86.87/litre, and Rs 88.89/litre, respectively.
Similarly, diesel has touched Rs 79.23/litre and Rs. 82.53/litre, in Kolkata and Hyderabad, respectively, as of the 22nd of January.
This is the second consecutive day of rate increase and the fourth this week.
The Union Oil Minister Dharmendra Pradhan earlier this week blamed Saudi oil output cut for the rise in oil prices.
However, when asked to cut taxes, Mr. Pradhan remained silent.
State-owned fuel retailers — Indian Oil Corporation Ltd., (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) on the 6th of January resumed daily price revision.
In a month rates have gone up by Rs 1.99 a litre on petrol and Rs 2.01 in case of diesel
Meanwhile the Central Government’s higher excise duty rose by Rs.13 to Rs. 32.98 per litre in 2020 and with states’ value added tax (VAT) the fuel prices are skyrocketing.
VAT on petrol comes around Rs 19.32 per litre.