Petrol and diesel prices on Wednesday were hiked for the third straight day (seventh time this month).
Petrol price was hiked by 25 paise a litre and diesel too by 25 paise per litre, according to a price notification by state-owned fuel retailers. The increase took petrol and diesel prices to their highest-ever level across the country. In Delhi, petrol now comes for Rs 92.05 per litre and diesel is priced at Rs 82.61.
This was the seventh increase in prices since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision/). Here is looking at the price difference of diesel and petrol in four metro cities on May 12, 2021.
Central government makes up for Rs 32.98 per litre of the price of petrol in Delhi and sales tax or VAT of the state government constitutes Rs 19.55. For diesel, the central excise adds up to Rs 31.83 and VAT to Rs 10.99. Besides, the price also includes a dealer commission of a minimum Rs 2.6 per litre on petrol and Rs 2 on diesel.
Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.
The second wave of coronavirus sweeping the nation has pummelled fuel sales in April as local restrictions clamped to curb the spread of inflection stifled demand, preliminary data showed. “At the end of April, overall fuel demand is down by about 7 per cent from pre-Covid level of April 2019,” Arun Singh, Director for Marketing and Refineries at Bharat Petroleum Corporation Ltd (BPCL), said.