The common man, who is constantly facing the cost of expensive petrol and diesel, has got very little relief today. Today both the prices of petrol and diesel have been cut by 15 paise. Earlier on Monday, there was no change in oil prices. On the other hand, the price of petrol was cut by 20 paise on Sunday. This reduction in petrol prices took place after 35 days amid continuous protests.
Petrol in the capital Delhi is Rs 101.49 per liter, while the price of diesel also came down to Rs 88.92 per liter. Petrol in Mumbai can be bought at Rs 107.52 per liter. And the price of diesel is Rs 96.48 per liter.
In Chennai, a liter of petrol costs Rs 99.20 and a liter of diesel costs Rs 93.52. The price of petrol in Kolkata is Rs.101.82 per liter. At the same time, the price of diesel is being sold at Rs 91.98 per liter.
The effect of softening prices is already being seen on the volatility in oil prices in the country. On Monday also, the OMC did not change the retail price of petrol and diesel.
Tax accounts for 55 percent of the retail price of petrol in Delhi. There is an excise duty of Rs 32.90 per liter in this, which is charged by the central government. 22.80 per liter of Value Added Tax, which is levied by the State Government. At the same time, the share of taxes in the price of diesel is 50 percent. In this, the share of excise duty is Rs 31.80 and that of VAT is Rs 13.04 per liter.
The outbreak of Kovid-19 is increasing once again across the world. But after the reduction of the last one week, the prices of crude oil increased again yesterday. Earlier, the price of Brent crude had reached the lowest level of the last four months. In the last week, it had broken more than 7 per cent. At the close of trading yesterday, Brent crude had climbed by $3.39 per barrel to reach $68.57 per barrel. Similarly, WTI crude also rose by $ 3.28 per barrel to close at $ 65.46.