Udayavni Special

Petrol, diesel prices at fresh highs; petrol crosses Rs 87 mark in Delhi


PTI, Feb 9, 2021, 11:43 AM IST

Image for representation

New Delhi: Petrol and diesel prices on Tuesday climbed to fresh highs in the country as rates were hiked after a three-day hiatus. Petrol and diesel prices were hiked by 35 paise per litre each, according to price notifications of state-owned fuel retailers.

The increase took petrol prices to a fresh high of Rs 87.30 a litre in Delhi and to Rs 93.83 in Mumbai. Diesel rates rose to Rs 77.48 per litre in the national capital and to an all-time high of Rs 84.36 in Mumbai.

Prices were last hiked by 30 paise on February 5.

Rates have risen by Rs 3.59 per litre in case of petrol and by Rs 3.61 on diesel in 2021. Brent crude oil price on Monday rose above USD 60 per barrel for the first time in more than a year on improving demand outlook amid the global rollout of COVID-19 vaccines.

Last week, Mukesh Kumar Surana, head of India’s third-largest fuel retailer Hindustan Petroleum Corporation Ltd (HPCL), said that a sudden spike in international oil prices because of a perception of mismatch in demand and supply as well as a cut in production by Saudi was fuelling the retail price hikes.

He had said that only 25-30 per cent of the retail pump rates are dependent on cost and the rest are central and state taxes.

“We probably have no choice but to pass on the variation (in benchmark cost) to the consumer,” he had said. “The government has taxation handle.”

Also last week, Oil Minister Dharmendra Pradhan told the Rajya Sabha in a written reply to a question that excise duty levied by the central government makes up for Rs 32.98 per litre of the price of petrol in Delhi and sales tax or VAT of the state government constitutes Rs 19.55.

For diesel, the central excise adds up to Rs 31.83 and VAT to Rs 10.99, he had said.

Besides, the price includes a dealer commission of a minimum Rs 2.6 per litre on petrol and Rs 2 on diesel.

Retail petrol rates have risen by Rs 17.71 per litre since mid-March 2020 after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices. Diesel rates have gone up by Rs 15.19.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Bharat Biotech’s Covaxin 81 pc efficient in Phase 3 trials

Jay Chaudhry, Himachal man who once studied under a tree is among world’s top billionaires today

Cabinet approves formation of high-level committee over reservation demands says Min Bommai

Govt can cut excise duty on petrol, diesel by Rs 8.5/litre without hurting revenues, say analysts

Maharashtra, Karnataka, 6 other states continue to see surge in new Covid-19 cases

Girls stripped, forced to dance by police; Maharashtra govt orders probe

Rahul’s claim that Cong did not try to capture institutions during Emergency ‘laughable’: BJP



Related Articles More

Jay Chaudhry, Himachal man who once studied under a tree is among world’s top billionaires today

Govt can cut excise duty on petrol, diesel by Rs 8.5/litre without hurting revenues, say analysts

Amazon changes its logo as old one resembled Hitler’s moustache

Tata Power DDL rolls out live peer-to-peer solar energy trading project

Sensex spurts 447 pts to reclaim 50,000-level; auto, IT stocks shine

MUST WATCH

Udayavani 03-March-2021 News Bulletin | Udayavani

Central prison in Mudipu will be completed within two years: DGP Alok Kumar

Udayavani 02-March-2021 News Bulletin | Udayavani

Mangalore: Prioritizing the city’s holistic development: New mayor Premananda Shetty

VenkiPalimar​ | Chhatrapati Shivaji Maharaj Magazine Collage Video

Latest Additions

Bharat Biotech’s Covaxin 81 pc efficient in Phase 3 trials

Mangaluru: Villagers, passengers protest at Talapady toll gates over stoppages and tolls

Jay Chaudhry, Himachal man who once studied under a tree is among world’s top billionaires today

Cabinet approves formation of high-level committee over reservation demands says Min Bommai

Govt can cut excise duty on petrol, diesel by Rs 8.5/litre without hurting revenues, say analysts

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.