The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The minister said Assam is among states that have the least VAT (value-added tax) on petrol.
Petrol price was hiked by 30 paise per litre and diesel by 35 paise a litre, according to a price notification of state-owned fuel retailers
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
Petrol and diesel prices are revised by the oil marketing companies. Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
Diesel price was raised on Friday as well by 20 paise per litre which oil marketing company sources said was based on the global price movement of the fuel.
Petroleum Minister Hardeep Singh Puri said that petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST.
This cut in fuel prices had come amid declining global crude oil prices. The October contract of Brent crude oil on the Intercontinental Exchange (ICE) was trading at $65.18.
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
Petrol and diesel prices have been hiked again on Thursday. While petrol becomes dearer by 0.35 paise, diesel by 0.9 paise in Delhi. Petrol is retailing at Rs 100.56 per litre in the national capital and diesel at Rs 89.62.
While petrol was priced at Rs 99.86 per litre in Delhi after 35 paise hike, people in the national capital have to shell out Rs 89.36 (unchanged today) for one litre of diesel.
Petrol and diesel prices were hiked again on Monday by up to 29 to 31 paise, according to price notification by the oil retailers, taking fuel prices to fresh record high levels.
Across the country as well petrol and diesel prices increased between 24-28 paise per litre on Monday but its retail prices varied depending on the level of local taxes in different states.
Petrol price was increased by 27 paise per litre and diesel by 28 paise a litre, according to a price notification of state-owned fuel retailers. The hike - 18th in the last one month - took fuel prices across the country to a historic high.
Petrol prices have increased by Rs 2.30 a litre in Delhi in May in the 10 increases so far. Similarly, diesel prices have risen by Rs 2.78 per litre in capital this month.
Last week, state-owned Indian Oil Corporation (IOC) renewed insurance cover for petrol pump attendants and LPG delivery boys as it looked to secure its frontline workers against health emergencies.
Despite the concerns about rising COVID-19 cases in India denting demand, crude oil prices in the international market have risen primarily on account of strong US demand recovery and a weak dollar.
Prices of Petrol and Diesel remain unchanged for the thirteenth consecutive day. The price of petrol and diesel has been the same across major cities since prices fell on March 30, 2021. Nation Capital Delhi was quoting a petrol price of Rs 90.56 per litre, diesel in the city was priced at Rs 80.87 per litre.
Since the start of January fuel prices were rising in India amid high rates of crude oil in the international market. However, fuel rates have steadied in India since March-end, giving a much-needed breather to the pandemic-hit middle class in the country.
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