As per reports, fuel prices started rising again after the pause of 8 days as Oil companies raised pump price of diesel by 25 paise, now diesel price in Delhi has gone up to Rs 80.78 per litre.
However, according to the state-run Indian Oil Corporation, the retail price of petrol remained the same after 8 days today which stands at Rs 80.43 per litre in Delhi. It should be noted that retail prices of fuels are different across the country because of variations in local levies.
The petrol and diesel price have witnessed 21 and 23 revisions in the last month. The prices of auto fuels have been rising since June 7 when there was a jump of 12.86% and 16.41% in the rates.
Delhi: Diesel price goes up to Rs 80.78 per litre
Before 7th June, petrol and diesel price in Delhi were Rs 71.26 per litre and Rs 69.39 per litre which has drastically increased in one month. It should be noted that Oil companies had frozen the petrol and diesel price since March 16 because of the coronavirus pandemic and stated that the increase in price will cover the previous losses. The decision was taken to provide relief to consumers.
Later, the prices were raised on May 5th when the Delhi government increased the VAT. Apart from Delhi, other states also increased the prices to take advantage of low prices of oil on global markets. According to an employee working in Oil company said all the past dues have been recovered and the current hike in prices is because of change in international fuel prices.
The diesel price surpassed petrol because of VAT, as per reports diesel is costlier than petrol internationally. However, the government says it has no role in this as the government deregulated pricing of fuel in 2010 and 2014. No response was given by petroleum ministry and Oil companies made no comments. Consumers didn’t enjoy the low prices as the centre and states levied high VAT and excise.