There has been an increase in the prices of petrol and diesel for the second consecutive day in the country. Crude oil prices have increased continuously at the international level, after which the effect of petrol and diesel prices in the country is also being seen.
New Delhi: Petrol diesel prices are constantly making new records. On Thursday, the price of petrol in Delhi reached a record level of Rs 84.70, while the price of diesel in Mumbai set a new record. The price of diesel in Mumbai reached the level of Rs 81.60. On Thursday, the price of both petrol and diesel was increased by 25 paise per liter. Due to the increase for two consecutive days, the price of petrol in Delhi has reached an all-time high.
The price of 1 liter petrol in Delhi has been increased to Rs 84.70 per liter. On the other hand, if you talk about Mumbai, the price of petrol in Mumbai has gone up to Rs 91.32 per liter, whereas in Mumbai the price of diesel has been increased to Rs 81.60 per liter, which is a record so far. Ajay Bansal, president of All India Petroleum Dealers Association, says that this effect is being seen in the international market due to increase in crude oil prices.
Ajay Bansal, President of India Petroleum Dealers Association, said that in the international market, crude oil producing countries have started cutting oil production. Due to this, the prices of crude oil are increasing in the international market. Due to this, there is a continuous increase in the prices of petrol and diesel in the Indian market as well.
If we talk about the prices of petrol and diesel in India, then tax is the biggest reason due to which the prices of petrol and diesel are so high. Ajay Bansal says that the price to tax ratio of petrol and diesel in India is around 65:35. That is, the price of oil is around 35% while tax is around 65%.
Petrol price break-up in Delhi on 1 January 2021
Base price- 27.37
Freight – 0.37
Excise Duty – 32.98
Dealer Commission – 3.67
VAT – 19.32
Total – 83.71
Diesel price break-up in Delhi on 1 January 2021
Base price- 28.32
Freight – 0.34
Excise Duty – 31.83
Dealer Commission – 2.53
VAT – 10.85
Total – 73.87
There is also a good news for the customers amid the news of petrol and diesel prices setting a constant record. Sources in the Petroleum Ministry say that in the coming days, customers will get relief in the form of tax deduction, which will reduce the prices of petrol and diesel.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.