Latest petrol and diesel prices at fifteen cities in India
The diesel and petrol prices on Day 21 of continuous revision i.e. Saturday June 28, 2020 were Rs 80.40 per litre and Rs 80.38 per litre respectively in Delhi. This was an increase of 21 paise on diesel and 25 paise on petrol compared to the previous day. Today, on June 29, the petrol and diesel prices remained unchanged from yesterday. Here are the latest prices of both the fuel in 15 cities in India.
Petrol - Rs. 87.14 per litre, Diesel - Rs 78.71 per litre
Petrol - Rs. 82.99 per litre, Diesel - Rs 76.45 per litre
Petrol - Rs. 83.59 per litre, Diesel - Rs 77.61 per litre
Petrol - Rs. 82.05 per litre, Diesel - Rs 75.52 per litre
Petrol - Rs. 83.44 per litre, Diesel - Rs 78.57 per litre
Petrol - Rs. 78.03 per litre, Diesel - Rs 77.88 per litre
Petrol - Rs. 87.51 per litre, Diesel - Rs 81.19 per litre
Petrol - Rs. 77.36 per litre, Diesel - Rs 71.86 per litre
Petrol - Rs. 82.72 per litre, Diesel - Rs 77.84 per litre
Petrol - Rs. 80.95 per litre, Diesel - Rs 78.56 per litre
Petrol - Rs. 84 per litre, Diesel - Rs 78.06 per litre
Petrol - Rs. 83.82 per litre, Diesel - Rs 75.52 per litre
Petrol - Rs. 67.79 per litre, Diesel - Rs 67.68 per litre
Petrol - Rs. 79 per litre, Diesel - Rs 72.04 per litre
Petrol - Rs. 81.60 per litre, Diesel - Rs 74.50 per litre
The difference in petrol and diesel prices on May 5 were Rs 7.3. In addition to the increase in VAT to 30 per cent on both fuels (up from 16.75 per cent on diesel and 27 per cent on petrol), there is an additional component of air ambience levy on diesel of Rs 250 per litre which contributes to Rs. 2 increase on it, also reducing the gap in the fuel prices. As per today, the cumulative increase on diesel is Rs 10.67 and petrol Rs 8.71, since June 7. Excise duty and taxes amount to 70% of fuel prices, whereas 30% is benchmarked with international prices.
Between March 16 and June 6, oil companies across the country had frozen the price hikes. As a measure to counter the losses due to the ongoing pandemic, the government had hiked the excise duty on both petrol and diesel prices, by Rs 10 per litre on petrol and Rs 13 litre on diesel. These two hikes resulted in Rs. 15,000 crore between March 15 to May 31. It is said that an increase of Rs.1 per litre amounts to Rs 14,000 crore a year to the government.
Initially, the oil companies such as Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation (IOC) had absorbed the hike, however, from June 7 onward the fuel prices were hiked on a daily basis.