Fuel prices today: Petrol, diesel prices hiked by 35p per liter in Delhi Check Revised Rate
Petrol and diesel prices were hiked once again on Thursday. While the prices of petrol and diesel were hiked by 35 paise and will sell at Rs 106.54 per liter and Rs 95.27 per liter respectively, today retailers in Delhi will get Rs 112.44 for a liter of petrol and Rs 103.26 for a litre. Will have to pay Rs. diesel price in mumbai
Petrol in Kolkata will be sold for Rs. 107.12 per liter and diesel will be sold for Rs. 98.38 per liter. Prices on Thursday in Chennai start at Rs. 103.61 per liter for petrol and Rs. 99.50 per liter for diesel.
Rising fuel prices in the country are not going to come down immediately. The central government is in talks with several oil exporting countries on the issue of supply and demand of oil but there is no possibility of immediate relief in prices.
According to reports, the government may opt to cut excise duty on petrol and diesel for the first time since the outbreak of the pandemic. By doing so, the government aims to prevent rising crude oil prices from adversely affecting the retail price of these two commonly used products.
Petrol and diesel prices have already hit historic highs across the country and have risen for most days in the past one month, leaving a huge hole in the pockets of consumers. A reduction of Rs 2-3 per liter in excise duty on petrol and diesel may be announced to prevent further hike in auto fuel prices. The announcement could be made ahead of Diwali to sweeten the festivities for consumers who have to bear the brunt of rising fuel prices with a hike of over Rs 30 per liter in petrol prices from January 1, while diesel prices will be hiked by about 26 per cent. per liter has increased by Rs.
If implemented, the reduction in excise duty by Rs 2 per liter on the two products would have a full-year revenue impact of over Rs 25,000 crore. Any further deduction, the annual revenue impact could exceed Rs 36,000 crore. However, since more than half of the current financial year (FY22) has already ended, the revenue foregone could be very less.
Read also:Petrol, diesel prices hiked in metro cities. Check Revised Rates
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