petrol and diesel price hike

Petrol and diesel prices reaches all-time high in capital

Petrol and diesel have been a necessity for every industry since its invention and especially for the automobile industry which runs 95% on these fossil fuels. And for the past few years, the oil prices haven’t seen any dip in its price. Moreover, today with the price hike of 35 paise overall metro states, the national capital’s petrol and diesel prices reach an all-time high of Rs 87.85 for petrol and Rs 78.03 for diesel. This was a 2nd-day consecutive hike after a hike of 30 paise on petrol and 25 paise on diesel on Tuesday.

When asked about the hike in petrol and diesel at Rajya Sabha which has reached an all-time high for the National capital to which the minister of petroleum and natural gas Mr Dharmendra Pradhan said that the central govt. has very little to do with the oil prices and those prices are dependent on the international crude oil price. Although this information may be true, however, the crude oil prices aren’t at their all-time high so why has to the Indian oil prices rise above those prices. To which Dharmendra Pradhan replies that even though the government hasn’t increased the prices since the last 250 days and due to the excise tax increased by the centre and VAT increased by the state this hike was bound to happen. But for almost a year the country has been suffering from the pandemic and use of fuel was at a bare minimum so what is the reason for this hike.

However, politics is out of our understanding but the thing we can do is compare these prices in states which are affected by this hike. In Mumbai, the petrol is sold at Rs 94.36 in Chennai it is at Rs 90.18 and for Kolkata its Rs 89.16. for the diesel pricing, Mumbai now sells it at Rs 84.94, Chennai at Rs 83.18 and Kolkata at Rs 81.61. Although, the Capital’s oil prices may seem a bit on the lower end when compared to other still these prices haven’t been this high ever.

New State wise petrol and diesel prices

STATEDIESEL PRICECHANGEPETROL PRICECHANGE
Andhra Pradesh80.21 ₹/L+9.5487.24 ₹/L+11.17
Assam83.99 ₹/L+0.2690.19 ₹/L+0.19
Bihar83.22 ₹/L+0.3090.27 ₹/L+0.24
Chhattisgarh84.56 ₹/L+0.3286.44 ₹/L+0.24
Gujarat83.92 ₹/L+0.3284.99 ₹/L+0.24
Haryana78.72 ₹/L+0.3086.02 ₹/L+0.24
Himachal Pradesh77.55 ₹/L+0.2985.93 ₹/L+0.24
Jammu And Kashmir80.16 ₹/L+0.3089.51 ₹/L+0.24
Jharkhand82.50 ₹/L+0.3185.97 ₹/L+0.19
Karnataka82.35 ₹/L+0.3290.40 ₹/L+0.26
Kerala82.61 ₹/L+0.3288.31 ₹/L+0.25
Madhya Pradesh86.15 ₹/L+0.3295.82 ₹/L+0.26
Maharashtra84.62 ₹/L+0.3194.67 ₹/L+0.24
Odisha85.02 ₹/L+0.3388.54 ₹/L+0.25
Punjab78.99 ₹/L+0.3087.00 ₹/L+0.24
Rajasthan86.27 ₹/L+0.3294.25 ₹/L+0.27
Tamil Nadu83.67 ₹/L+0.2890.66 ₹/L+0.22
Telangana85.11 ₹/L+0.3291.35 ₹/L+0.26
Uttar Pradesh78.29 ₹/L+0.3086.69 ₹/L+0.19
Uttarakhand78.66 ₹/L+0.3087.35 ₹/L+0.20
West Bengal81.61 ₹/L+0.3089.16 ₹/L+0.24
NCT Of Delhi78.03 ₹/L+0.3087.85 ₹/L+0.25

*source economic times

When asked about whether the government is thinking on cutting the taxes and giving a subtle relief to the users, union minister Dharmendra Pradhan said to rule out any such reduction in taxes or excise duties and there is no such proposal to entertain such actions.

Since March 2020 petrol prices have been hiked up by Rs 18.01 and diesel by Rs 15.44. And it is fairly interesting to know when in the international market when crude oil prices (petrol and diesel prices) reached their all-time low in April, the Indian government raised their excise duty to a record high of Rs 16/ litre on diesel and Rs 13/ litre on petrol and collected all the profits they could earn. But the government didn’t reduce a single penny when the international prices went back to normal.

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