The rising petrol and diesel prices are showing no signs of respite, with all major cities recording 25 paise to 21 paise hike today, the data from oil marketing companies suggests. With this hike, petrol has seen Rs 9.12 per litre rise, while diesel prices have been increased by Rs 10.77 per litre in the past 21 days.
As per the latest price notification, petrol and diesel will cost Rs 80.38 per litre and Rs 80.40 per litre, respectively, in Delhi. In Mumbai, petrol prices have gone up to Rs 87.14 per litre, while diesel will cost Rs 78.71 per litre. In Kolkata, petrol now costs Rs 82.05 per litre from Rs 81.82 a litre recorded on Friday, while diesel will cost Rs 75.52 per litre. In Chennai, petrol and diesel saw 22 paise and 17 paise rise to 83.59 per litre and Rs 77.61, respectively.
Check latest and revised petrol prices across 4 major cities
Check latest and revised diesel prices today
Fuel prices, except for Wednesday, have risen consistently since June 7 after 82-day hiatus on fuel price revision due to the COVID-19 pandemic. Taxes form about two-thirds of the total retail selling price of petrol and diesel. On a litre of petrol, people pay Rs 50.69 or 64 per cent tax, including Rs 32.98 in central excise duty and Rs 17.71 as VAT. Similarly, diesel attracts 63 per cent or Rs 49.43 per litre as taxes, including Rs 31.83 as excise duty and Rs 17.60 as VAT.
Meanwhile, oil prices settled lower on Friday as new coronavirus cases spiked in the United States and China, and on growing concerns about rising US output ticking up while crude stockpiles sat at record highs, reported Reuters. Brent crude LCOc1 futures settled down 3 cents at $40.91, falling 1% on the week. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 23 cents to $38.49, down 1.6% on the week.
Also read: Diesel no longer cheaper than petrol; should you still buy a diesel car?