Oil price fire: Petrol price hiked by Rs. 36, diesel prices also reached seventh sky

PTI, New Delhi

Published by: Surendra Joshi
Updated Saturday, 23 October 2021 04:03 PM IST

Summary

According to a notification issued by state-owned oil companies, a liter of petrol in Delhi will cost Rs 107.24 and a liter of diesel Rs 95.97.

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Petrol and diesel prices rose by 35 paise per liter for the fourth day in a row on Saturday. With this, in the last 18 months, petrol price has gone up by Rs 36 per liter and diesel by Rs 26.58 per liter. It has increased since May 2020. In May 2020, the tax on both oil prices rose to record levels.

According to a notification issued by state-owned oil companies, a liter of petrol in Delhi will cost Rs 107.24 and a liter of diesel Rs 95.97. Petrol has crossed Rs 100 per liter in all cities of the country. In some cities, diesel is also being sold at a price of more than Rs 100 per liter. The current petrol price in the country is taxed at 54 per cent and diesel at 48 per cent.

Excise duty increased in May 2020
In the first week of May 2020, the government increased excise duty on petrol and diesel. Since then, international crude oil prices have fallen to $ 19 a barrel. In such a situation, it was felt that the benefit of this reduction would be available to the common people, but the government on the contrary increased the excise duty. At present, the excise duty on petrol is Rs 32.90 per liter and Rs 31.80 per liter on diesel. The price of crude oil in the international market reached $ 85.

The government has given clarity on expensive fuel
On the rise in petrol and diesel prices, Petroleum Minister Hardeep Singh Puri had earlier said that the government was setting up free vaccines and free food grains during the corona period, with the help of taxes levied on petrol and diesel. Assistance is also being provided to several other government schemes. He asked if the government would reduce taxes to reduce the burden on consumers. On this, Puri said that he was not the Finance Minister and that it was not right for me to answer this question.

Expansion

Petrol and diesel prices rose by 35 paise per liter for the fourth day in a row on Saturday. In addition, the price of a liter of petrol has gone up by Rs 36 and diesel by Rs 26.58 in the last 18 months. It has increased since May 2020. In May 2020, the tax on both oil prices rose to record levels.

According to a notification issued by state-owned oil companies, a liter of petrol in Delhi will cost Rs 107.24 and a liter of diesel Rs 95.97. Petrol price in all cities of the country has crossed Rs 100 per liter. In some cities, diesel is also being sold at a price of more than Rs 100 per liter. The current petrol price in the country is taxed at 54 per cent and diesel at 48 per cent.

Excise duty increased in May 2020

In the first week of May 2020, the government increased excise duty on petrol and diesel. Then crude oil prices in the international market fell to $ 19 per barrel. In such a situation, it was felt that the benefit of this reduction would be available to the common people, but the government on the contrary increased the excise duty. At present, the excise duty on petrol is Rs 32.90 per liter and Rs 31.80 per liter on diesel. Crude oil prices in the international market reached $ 85.

The government has given clarity on expensive fuel

On the rise in petrol and diesel prices, Petroleum Minister Hardeep Singh Puri had earlier said that the government was setting up free vaccines and free food grains during the corona period, with the help of taxes levied on petrol and diesel. Assistance is also being provided to several other government schemes. He questioned whether the government would reduce taxes to reduce the burden on consumers. On this, Puri said that he was not the Finance Minister and that it was not right for me to answer this question.

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