Economy

Prices touch dizzy heights

The petrol prices have gone up about 6% since August 1, while the diesel prices went up by 8% during the same period.

The prices of petrol and diesel on Saturday touched a new high, with Mumbai witnessing the maximum among the four metros.

While petrol costs ₹89.01 a litre in Mumbai , diesel is priced at ₹78.07, according to the daily price notification issued by State-ownwed oil marketing companies (OMCs).

In Delhi, petrol is sold for ₹81.63 and diesel at ₹73.54, which is also a record high but lowest among the four metros.

In Kolkata, the petrol price is ₹83.49 and diesel dispensed for ₹75.39.

In the case of Chennai, petrol is sold for ₹84. 85 and diesel at ₹77.74.

The petrol prices have gone up about 6% since August 1, while diesel prices were up by 8% in the same period.

The prices build-up

The price build-up of petrol in Delhi as on September 10, includes an excise duty of ₹ 19.48, dealer commission of ₹ 3.64 and VAT of ₹ 17.16 (including VAT on dealer commission).

In the case of diesel, it was an excise duty of ₹ 15.33, dealer commission of ₹ 2.52 and VAT of ₹ 10.70 (including VAT on dealer commission).

The fuel prices are likely to go up further as price of Brent oil was still hovering over $78 a barrel.

India imports about 80% of its crude oil, and the falling rupee will make the imports costlier and lead to a rise in fuel prices.

In mid-June last year, the OMCs dumped the 15-year practice of revising rates on the first and 16th of every month.

India imported crude oil worth ₹ 2,640,30 crore (over $39 billion) between April and July 2018, according to data provided by the Petroleum Planning and Analysis Cell.

 

 

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Printable version | Apr 2, 2020 8:27:19 AM | https://www.thehindu.com/business/Economy/petrol-diesel-prices-touches-new-high/article24953530.ece

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