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Fuel Prices hiked Again

Fuel Prices hiked Again

After yesterday’s relief from government oil companies, the prices of petrol and diesel have increased again today. Today the diesel price has increased by a maximum of 30 paise, while the price of petrol has also increased from 26 to 29 paise.

In Delhi, the price of petrol is Rs 97.22 while the price of diesel is Rs 87.97 per litre. The price of petrol in Mumbai is Rs 103.36 and that of diesel is Rs 95.44 per litre. Petrol and diesel prices across the country reached new highs after the 28th increase in vehicle fuel prices in a month.

In eight states and union territories of the country (Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir and Ladakh), the retail price of petrol has crossed Rs 100 per liter. Mumbai, Hyderabad and Bangalore are the three metropolitan cities, where the price of petrol has crossed Rs 100 per liter. Petrol had already touched Rs 100 per liter in many districts of Karnataka. Petrol in the state capital Bengaluru crossed the Rs 100 mark on Friday. While petrol in Leh had already crossed Rs 100 per liter, in Srinagar it crossed this figure on Friday.

Sri Ganganagar of Rajasthan is the first district in the country where petrol was the first to cross Rs 100 per liter. In mid-February, petrol had reached Rs 100 per liter there. Last week, diesel also crossed Rs 100 per liter in Sriganganagar.

Petrol and diesel prices change every day at 6 am. The new rates are applicable from 6 am onwards. After adding excise duty, dealer commission and other things to the price of petrol and diesel, its price almost doubles.

On the basis of these parameters, oil companies do the work of fixing petrol rate and diesel rate daily. Dealers are people running petrol pumps. They sell petrol themselves at retail prices to the consumers end after adding taxes and their own margins. This cost is also added to the petrol rate and diesel rate.

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