Petrol & Diesel Prices Soar For Eighth Consecutive Day

Petrol and diesel rates across the country hit fresh record highs on Tuesday, February 16. The fuel prices were hiked sharply for the eighth consecutive day. Petrol price has been raised by roughly 30 paise. On the other hand, diesel has increased by approximately 35 paise across the country. This hike has put more strain on the common person’s pocket amid COVID-19 Pandemic.

In the last seven days, the price has gone up by Rs 2.36 per litre for petrol while the diesel rate has risen by Rs 2.91 a litre.

Here us the statewide price list pf petrol and diesel:

Delhi:

• Petrol price is at Rs. 89.29 per litre.
• Diesel price stands at Rs 79.70.

Mumbai:

• Petrol costs Rs. 95.75 per litre
• Diesel stands at Rs 86.72 per litre

Chennai

• Petrol costs around Rs 91.45 per litre
• Diesel stands at Rs 84.77 per litre

Kolkata

• Petrol costs Rs 90.54 per litre
• Diesel stands at Rs 83.29 per litre

Reportedly the base prices of petrol and diesel today are Rs. 31.82 and 33.46 respectively. But Excise duty, freight, VAT and dealer commission are added to this price to determine the retail price of the fuel. This increases the retail price. The difference in prices in states is due to the local taxes and VAT taxes imposed in states.

Oil Minister Dharmendra Pradhan has ruled out the possibility of a reduction in taxes on fuels in order to reduce prices. He added that the taxes are increased or decreased depending on the requirement of the government and market situation.

Experts fear that the sharp rise in fuel prices could slow down India’s economic recovery.

Also Read: India: Petrol, Diesel Prices Touch All-Time Highs; 4th Price Rise In Week