Latest News Today – Petrol, Diesel Prices Remain Unchanged For 14th

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Petrol And Diesel Prices Remain Unchanged For 14th Consecutive Day

Petrol, diesel prices remain unchanged for 14th consecutive day

Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged across the four metro cities for the 14th consecutive day on Sunday, August 1. In the national capital, petrol prices were steady at Rs 101.84 per litre and diesel rates were unchanged at Rs 89.87 per litre, according to data by Indian Oil Corporation. In Mumbai, petrol prices stood at Rs 107.83 per litre and diesel is retailed at Rs 97.45 per litre. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City). 

Currently, among the four metro cities, petrol and diesel prices are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax.

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise fuel rates on a daily basis, considering crude oil prices in the international markets and the rupee-dollar exchange rates. Any changes in petrol, diesel prices are implemented with effect from 6 am every day.  

Here are the petrol and diesel price across the metro cities:

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Latest News Today – Petrol, Diesel Prices Unchanged For 13 Days Across

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Petrol, Diesel Prices Unchanged For 13 Days In A Row

Petrol and Diesel Rate today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates remained steady

Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged across the four metro cities for the 13th consecutive day on Saturday, July 31. In the national capital, petrol prices were steady at Rs 101.84 per litre and diesel rates were unchanged at Rs 89.87 per litre, according to data by Indian Oil Corporation. In Mumbai, petrol prices stood at Rs 107.83 per litre and diesel is retailed at Rs 97.45 per litre. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City). 

Currently, among the four metro cities, petrol and diesel prices are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax.

Here are the petrol and diesel price across the metro cities:

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise fuel rates on a daily basis, considering crude oil prices in the international markets and the rupee-dollar exchange rates. Any changes in petrol, diesel prices are implemented with effect from 6 am every day.  

On Friday, July 30, global oil benchmark Brent crude declined 0.25 per cent to $ 75.86 per barrel in futures trade. The rupee snapped its two-day winning streak and declined 13 paise against the US dollar to settle at 74.42 (provisional), amid higher crude oil rates, muted domestic equities, and foreign fund outflows.

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Latest News Today – Excise Duty On Petrol, Diesel Hiked By 43% And 68% In 11

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Excise Duty On Petrol, Diesel Hiked By 43% And 68% In 11 Months

Excise duty on petrol and diesel was hiked 43 per cent and 68 per cent in 11 months

Excise duty on petrol and diesel went up by 43 per cent and 68.8 per cent respectively between March 2020 and February 2021, even as fuel prices have sky rocketed over the past few weeks to cross the Rs 100 per litre mark in all the four metros as well as in many cities across the country. 

The Centre collected Rs 1,01,598 crore through excise duty on petrol and Rs 2,33,296 crore through excise duty levy on diesel during 2020-21. 

The excise duty on petrol was Rs 22.98 per litre on March 14, 2020, just 10 days before the national lockdown was imposed due to the Coronavirus pandemic. It was raised by 43 per cent to Rs 32.90 per litre on February 2, 2021, when the infection was on a downward slide.

Similarly the excise duty on diesel was at Rs 18.83 per litre on March 14, 2020 while it was raised to Rs 31.80 per litre on February 2, 2021, a hike of 68.8 per cent.

The excise duty on petrol which is currently Rs 32.90 per litre, includes basic excise duty of Rs 1.40, road and infrastructure development cess of Rs 18, agriculture and infrastructure cess of Rs 2.50 and special additional excise duty of Rs 11 is included in it.

The current excise duty on diesel is Rs 31.80 per litre, which includes basic excise duty of Rs.1.80, road and infrastructure development cess of Rs18, agriculture and infrastructure development cess of Rs 4 and special additional excise duty of Rs 8.

The total excise duty incidence as percentage of retail selling on petrol and diesel is 32.4 per cent and 35.4 per cent respectively, as on July 16, 2021, according to official estimates. 

These details were provided by Petroleum Minister Hardeep Singh Puri in response to a question asked in Lok Sabha regarding the impact of the rising fuel prices on country’s economic recovery from Coronavirus pandemic.

The minister said that the revenue collected by levying these taxes is used in various developmental schemes of the Centre.

He said that over the last seven years, length of national highways have gone up by 50 per cent from 91,287 km (as on April 2014) to 1,37,625 km (as on 20 March 2021). Highway construction per day in India increased almost three times from 12 km per day in 2014-15 to 33.7 km per day in 2020-21.

The cess is used for infrastructure development and also generates employment, the minister claimed in his reply.

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Latest News Today – Excise Duty On Petrol And Diesel Hiked By 88% And 209%

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Excise Duty On Petrol And Diesel Hiked By 88% And 209% In Six Years

Excise duty on petrol and diesel have gone up considerably in the last six years

Central excise duty on petrol has almost doubled and gone up by 88 per cent in the last six years while excise duty on diesel has gone up by three times and witnessed a 209 per cent hike during the same period, as fuel prices across the country have crossed Rs 100 per litre.

As on July 1, 2021, central excise duty on petrol is Rs 32.90 per litre inclusive of cess, whereas on July 1, 2015 it was Rs 17.46 per litre on petrol including cess, according to official data. This shows that excise duty has almost doubled on petrol in six years between July 2015 and July 2021 and witnessed 88 per cent increase.

Excise duty on diesel has gone up by a humungous 209 per cent during the same period, as it is Rs 31.80 per litre including cess as on July 1, 2021 while it was Rs 10.26 per litre including cess as on July 1, 2015.

Petrol prices in the four metro cities of Delhi, Mumbai, Chennai and Kolkata have crossed more than Rs 100 per litre while diesel prices in the four metros are in the vicinity of Rs 90 to Rs 98 per litre.

In several cities across the country, especially in Rajasthan and Madhya Pradesh, petrol prices have crossed the Rs 100 per litre mark.

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Latest News Today – Petrol, Diesel Prices Unchanged Across Metros

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No Change In Petrol, Diesel Rates For 7th Consecutive Day

Petrol and Diesel Rate today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates remained steady

Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged across the four metro cities for the seventh consecutive day on Saturday, July 23. In the national capital, petrol prices were steady at Rs 101.84 per litre and diesel rates were unchanged at Rs 89.87 per litre, according to Indian Oil Corporation. In Mumbai, petrol prices stood at Rs 107.83 per litre, and diesel is retailed at Rs 97.45 per litre. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City). 

Currently, among the four metro cities, petrol and diesel prices are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax.

Here are the petrol and diesel price across the metro cities:

Petrol and diesel rates are revised by state-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum on a daily basis, considering crude oil prices in the international markets and rupee-dollar exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day. 

On Friday, July 23, global oil benchmark Brent crude futures fell 0.05 per cent to $73.75 per barrel. The rupee rose the third straight day and gained six paise to settle at 74.4 against the US dollar tracking weaker crude oil prices and positive domestic equities. 

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Latest News Today – Excise Duty Rates On Petrol, Diesel Calibrated To

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Excise Duty On Fuel Calibrated To Generate Resources For Infrastructure: Finance Ministry

Between April-June, the total excise duty collected on petrol and diesel was Rs 94,181 crore

The excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure building and other developmental expenditure keeping in view the prevailing fiscal situation, Minister of State for Finance Pankaj Chaudhary said on Tuesday.

In a written reply to a question in the Rajya Sabha, the minister said petrol price had gone up by Rs 3.83 a litre in May, Rs 4.58 in June and Rs 2.73 in July (up to July 16).

In April, the prices of petrol and diesel were revised down by Rs 0.16 and Rs 0.14 a litre, respectively. The retail selling price of diesel rose by Rs 4.42 a litre in May, Rs 4.03 in June and Rs 0.69 in July (up to July 16).

The retail selling price of petrol and diesel in Delhi on July 16, 2021, stood at Rs 101.54/litre and Rs 89.87/litre respectively, he said. “The excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure and other developmental items of expenditure keeping in view the prevailing fiscal situation,” Chaudhary said.

In the first three months (April-June) of the current fiscal, the total excise duty collected on petrol and diesel was Rs 94,181 crore. Excise collections on petrol and diesel jumped by 88 per cent to Rs 3.35 lakh crore in the last fiscal ended March 31, 2021, after excise duty was raised to a record high.

Excise duty on petrol was hiked from Rs 19.98 per litre to Rs 32.9 last year to recoup gains arising from international oil prices plunging to multi-year low as the pandemic gulped demand. The same on diesel was raised to Rs 31.8 from Rs 15.83 a litre.

The prices of petrol and diesel are market-determined with effect from June 26, 2010 and October 19, 2014, respectively. Since then, the public sector oil marketing companies (OMCs) have been taking appropriate decision on pricing of petrol and diesel on the basis of international product prices and other market conditions.

The OMCs have increased and decreased the prices of petrol and diesel according to changes in international prices and rupee dollar exchange rate, he said. “The government is making concerted efforts to raise resources for infrastructure and other developmental items of expenditure, the details of which were announced in the annual Budget.

“The excise duty rates on petrol and diesel have been calibrated to generate these resources keeping in view the prevailing fiscal situation. VAT on petrol and diesel are levied by states,” he added.

Chaudhary was replying to a separate question on whether the government proposes to cut down high excise duty on petrol and diesel and whether it will continue to increase excise duty and VAT on these products. 

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Latest News Today – Petrol And Diesel Price Today 17 July 2021: Petrol Rates

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Petrol Rates Hiked Across Metros On Saturday; Crosses Rs 102-Mark In Kolkata

Petrol and Diesel Rate today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates were hiked today

Petrol, Diesel Price Today: Petrol prices were hiked across the four metro cities on Saturday, July 17, while diesel rates remained steady, after touching new highs on July 15. In the national capital, petrol rates were hiked by 30 paise from Rs 101.54 to Rs 101.84 per litre, while diesel rates remained steady at Rs 89.87, according to Indian Oil Corporation. In Mumbai, the revised petrol prices stand at Rs 107.83 per litre, and diesel is retailed at Rs 97.45. Petrol rates crossed the Rss 102-mark in Kolkata today. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City)

Currently, among the four metros, petrol and diesel prices are the highest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states in India due to value-added tax. 

Here are the petrol and diesel price across the metro cities:

Petrol and diesel rates are revised by state-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum on a daily basis, considering crude oil prices in the international markets and rupee-dollar exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day. 

Meanwhile, on Friday, July 16, the rupee he rupee slipped three paise against the US dollar on Friday, July 16, to settle at 74.57 (provisional). Global oil benchmark Brent crude futures advanced 0.37 per cent to $ 73.74 per barrel.

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Latest News Today – India’s Petrol Sales In 1st Fortnight Of July Jump Above

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India's Petrol Sales Rise Above Pre-Pandemic Levels: Report

India hopes its fuel demand would recover topre-pandemiclevelsby the end of this year.

Indian state fuel retailers’ petrol sales exceeded pre-pandemic levels in the first fortnight of July, as motorists took back to the roads after states eased COVID-19-related lockdowns.

Sales of petrol rose to 1.03 million tonnes in the first fortnight of July, a jump of about 3.44 per cent over the corresponding 2019 period, preliminary industry data showed on Friday.

India’s petrol sales recovered to pre-pandemic levels in October 2020 before a second deadly wave of infections began hitting the fuel’s demand in April.

Rising fuel sales in India, the world’s third-biggest oil importer and consumer, is a positive development for global oil markets.

The Organization of Petroleum Exporting Countries said on Thursday it expects world oil demand to increase next year to around levels seen before the pandemic, led by demand growth in the U.S., China and India.

With easing of restrictions by the states after a decline in infections, motorists flocked to tourist destinations and markets, leading Indian Prime Minister Narendra Modi to warn against overcrowding.

This week home ministry asked officials nationwide to enforce social distancing and clamp down on overcrowding at tourist sites.

Diesel sales, which accounts for about two-fifths of India’s overall refined fuel consumption and is directly linked to industrial activity in Asia’s third-largest economy, was about 10.7 per cent less than the same period of 2019, the data showed.

India hopes its fuel demand would recover to pre-pandemic levels by the end of this year. State-run Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90 per cent of the country’s retail fuel outlets.

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Latest News Today – Petrol And Diesel Price Today July 11, 2021: Fuel Prices

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Petrol, Diesel Prices Remain Unchanged On July 11, 2021

Petrol And Diesel Rates Today In Delhi, Kolkata, Chennai, Mumbai: Fuel prices remain unchanged

Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged on Sunday July 11, a day after they were hiked for the 38th time on July 10.

In the national capital, petrol rates were hiked by 35 paise from Rs 100.56 per litre to Rs 100.91 per litre, according to Indian Oil Corporation on July 10. Diesel rates were also increased by 26 paise from Rs 89.62 to Rs 89.88 per litre in Delhi. In Mumbai, petrol prices are almost near the Rs 107-mark at Rs 106.93 from Rs 106.59 per litre, while diesel is being sold at Rs 97.46 per litre. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City)

Currently, petrol and diesel rates are the most expensive in Mumbai among the four metro cities of the country, according to the state-run oil refiner. Fuel rates vary across the states in India due to value-added tax. 

Here are the petrol and diesel price across the metro cities:

Petrol and diesel prices are revised on a daily basis by state-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum considering crude oil prices in the international markets and rupee-dollar exchange rate. Any changes in fuel prices are implemented with effect from 6 am every day.

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Latest News Today – Petrol And Diesel Price Today 10 July 2021: Petrol,

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Petrol, Diesel Rates Hiked Again, Petrol Nears Rs 107-Mark In Mumbai

Petrol and Diesel Rate today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates were hikes today

Petrol, Diesel Price Today: Petrol and diesel prices were hiked across the four metro cities on Saturday, July 10. In the national capital, petrol rates were hiked by 35 paise from Rs 100.56 per litre to Rs 100.91 per litre, according to Indian Oil Corporation. Diesel rates were increased by 26 paise from Rs 89.62 to Rs 89.88 per litre in Delhi. In Mumbai, petrol prices neared the Rs 107-mark today as the revised rate now stands at Rs 106.93 from Rs 106.59 per litre, while diesel is being sold at Rs 97.46 per litre. (Also Read:How To Check Latest Petrol And Diesel Rates In Your City)

Currently, petrol and diesel rates are the most expensive in Mumbai among the four metro cities of the country, according to the state-run oil refiner. Fuel rates vary across the states in India due to value-added tax. 

Here are the petrol and diesel price across the metro cities:

Petrol and diesel prices are revised on a daily basis by state-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum considering crude oil prices in the international markets and rupee-dollar exchange rate. Any changes in fuel prices are implemented with effect from 6 am every day. 

Meanwhile, on Friday, July 9, the rupee snapped its losing streak recovered to 74.64 against the US dollar, tracking weaker American currency and inflows for initial public offerings such as Clean Science and Technology and GR Infra projects. Brent crude futures, the global oil benchmark, surged 0.98 per cent to $ 74.85 per barrel yesterday. 

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