Fuel prices in Delhi are the cheapest among all metros and most state capitals. However, the rates are varying from state to state depending on the incidence of local sales tax or Value Added Tax (VAT).
Fuel prices in Delhi are the cheapest among all metros and most state capitals. Today, the price of petrol climbed to Rs 76.24 per litre, the highest since the daily price revision came into force in last June 2017. The diesel price also increased by 26 paise a litre to Rs 67.57. However, the rates are varying from state to state depending on the incidence of local sales tax or Value Added Tax (VAT).
Among the metros, the price of petrol and diesel are highest in Mumbai- Rs 84.07 per litre and Rs 71.94 per litre respectively. In Kolkata, the price of petrol and diesel are Rs 78.91 a litre and Rs 70.12 per litre respectively. In Chennai, the price of petrol and diesel are Rs 79.13 and Rs 71.32 a litre respectively.
Among other cities, the Petrol price is cheapest in Goa’s Panjim where a litre comes for Rs 70.26. While, it is highest in Bhopal (Rs 81.83 a litre) followed by Patna (Rs 81.73), Hyderabad (Rs 80.76) and Srinagar (Rs 80.35).
Diesel price is cheapest in Andaman and Nicobar islands’ Port Blair where it costs at Rs 63.35. It is highest in Hyderabad were it is priced at Rs 73.45 followed by Trivandrum (Rs 73.34), Raipur(Rs 72.96), Gandhinagar (Rs 72.63), Bhubaneswar (Rs 72.43), Patna (Rs 72.24), Jaipur (Rs 71.97), Ranchi (Rs 71.35), Bhopal (Rs 71.12) and Srinagar (Rs 70.96).
Today is the seventh day of price hike since oil PSUs on May 14, 2018, had resumed daily price revision.
Last week, Economic Affairs Secretary Subhash Chandra Garg had refused to answer a query if the government will cut excise duty on auto fuel to ease the burden on consumers. He, however, said that the government is keeping a close watch on the situation and adequate steps will be taken at appropriate time.
The fuel prices were increased last week by state-owned Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) after Karnataka voted to elect a new government.
As per the report of PTI, Oil PSUs- HPCL, BPCL and IOC are estimated to have lost around Rs 500 crores after the fall in rupee against the US dollar and on absorbing the higher cost in international markets. On April 24, the international rate for petrol had risen to US Dollar 78.84 per barrel to Rs US Dollar 84.97 on May 14, 2018, while the international rate for diesel had risen to US Dollar 84.68 per barrel to Rs US Dollar 90.28 on May 14, 2018. The rupee has also weakened to Rs 67.27 per dollar from Rs 66.62.