Prices of petrol and diesel in the country reached new record levels on Thursday. The biggest increase in vehicle fuel prices has been made in recent times. Petroleum marketing companies have said that the government can reduce the burden of consumers by cutting taxes. After a gap of about a week, as per the price notification of the public sector petroleum marketing companies Prices of both petrol and diesel fuels 35-35 paise per liter has been increased. After this increase, petrol has reached a new high of Rs 86.65 per liter in Delhi. In Mumbai, petrol has reached a new high of Rs 93.20 per liter. Similarly, diesel has become Rs 76.83 per liter in Delhi. Mumbai has reached its all-time high of Rs 83.67 per liter.
Mukesh Kumar Surana, head of Hindustan Petroleum Corporation (HPCL), the country’s third-largest petroleum marketing company, said that in the last two-three days, international crude oil prices have suddenly risen to $ 59 per barrel. Apart from the concept of demand and supply differentials, prices have increased due to production cuts by Saudi Arabia. The retail price of vehicle fuel is derived above the benchmark cost of production by adding the dealer’s commission in addition to the taxes of the center and states. Surana said, “Only 25 to 30 percent of the retail price of vehicle fuel at petrol pumps depends on the international benchmark cost. The rest is taxed by the Center and the states.
He said, “We have no choice but to pass on the burden of increasing the benchmark cost to the customers.” The government has taxation for this. He said that the margin is very low. “The government can answer how to stop the prices.” Petroleum Minister Dharmendra Pradhan said in a written reply in the Rajya Sabha on Wednesday that the share of central government excise duty in petrol price in Delhi is Rs 32.98. is. At the same time, the share of sales tax or value-added tax (VAT) of the state government is Rs 19.55.
(This news has not been edited by the NDTV team. It is published directly from the Syndicate feed.)