Petrol prices have been marginally increased on Friday. Petrol price in Delhi increased by 10 paise and reaches close to all-time hit of Rs 82.32 / liter. However, there is no increase in diesel rates. The price of diesel in Delhi is 73.87 / liter. At the same time, the price of petrol in the financial capital Mumbai has gone up by 9 paise to Rs 89.69 / liter. Diesel prices have not been changed here too. Diesel will be sold in Mumbai for Rs 78.42 / liter on Friday. After Thursday’s relief on one day, the price of petrol was increased by 0.6 paise. Today it means that today it has seen an increase of 10 paise. So, the petrol which was getting Rs 82.22 per liter till yesterday, is getting Rs 82.32 per liter today.
Petrol Diesel Price Hike
In fact, the prices of petrol and diesel are increasing steadily over the last few weeks. The government oil companies (Indian Oil, Hindustan Petroleum, Bharat Petroleum) are saying the fall in rupee and the crude oil inflation in the international market as a proportion of the dollar for the continued increase in prices of petrol and diesel. From January 1 this year, the rupee was valued at 8.63 dollars compared to the rupee. This is a 13.5 percent decline in the value of the rupee. On September 17, the price of one dollar is 72.50 rupees.
Petrol Diesel Price reduction in States
According to the SBI Research Report, due to crude 1 dollar costlier, the states have an annual income of Rs 1,513 crore annually. The report said that in the state of Maharashtra, the reduction in petrol by 3.20 and diesel by 2.30 rupees was not given to them. Rajasthan on Monday reduced VAT by 4%. On Tuesday, Andhra Pradesh reduced petrol price by 2 rupees. The next day, the West Bengal Government also announced to reduce the Rupee 1 while the Karnataka announced a reduction in petrol and diesel from September 18.
Maharashtra government is thinking on increasing petrol and diesel price by levying excise duty on liquor. Mumbai has the highest VAT rate of 39.12% on petrol. The Central Government takes excise duty of Rs 19.48 on petrol and Rs 15.33 per liter on diesel. By adding excise duty and VAT, 40-50% tax is included in petrol and diesel prices.