Petrol, diesel prices unchanged for 21st day

Petrol, Diesel prices remain steady, govt tax collection on fuel swells by 459% in 7 years

By Administrator_ India

Capital Sands

Petrol and diesel prices were paused for the the 21st day on Monday after sixth straight day of hikes.

Fuel prices were hiked for the sixth straight day on December 7 by the oil marketing companies leading rates to touch 2-yrear high. Petrol price in Delhi was was hiked by 30 paise per litre and diesel by 26 paise, the sixth straight day of increase in rates due to firming international oil prices on Monday.

Petrol price in Delhi is at Rs 83.71 per litre while diesel prices are Rs 73.87 per litre, according to notifications from Indian Oil Corporation.

Petrol and diesel prices that remained unchanged for 48 days, saw a rate revision on November 20 (Friday), as state-run oil marketing companies hiked fuel prices. Rates differ from state to state depending on the incidence of VAT. Taxes make up for nearly two-third of the retail selling price. 

In September, diesel prices saw first reduction since mid-March when Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) froze rates for 82 days to adjust a record hike in excise duty on auto fuels against falling benchmark cost.

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