Petrol Diesel Prices record continuous Hike for 11th Consecutive Day

New Delhi: After reaching the record level, the price of petrol and diesel has increased on Friday for the 11th consecutive day in the national capital. Petrol price has increased by 31 paise and diesel by 33 paise per liter today. With this, retail fuel prices have increased in different states. The price of petrol and diesel in different states of the country is decided on the basis of local sales tax or VAT and transportation expenses.

Hike in Petrol Price for continuous 11th Day:

In the capital Delhi, on Friday, the new price of petrol has reached Rs 90.19 per liter and the price of diesel has reached Rs 80.60 per liter. On Thursday, after the increase in fuel prices for the 10th consecutive day on Thursday, the price of petrol in Madhya Pradesh crossed Rs 100 per liter. Petrol on Thursday sold Rs 100.25 per liter and diesel Rs 90.35 per liter in Anuppur, Madhya Pradesh.

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Petrol Price above rupee 100:

The first petrol price in Sriganganagar, Rajasthan reached beyond 100 rupees. On Wednesday, the price of petrol crossed Rs 100.13 per liter. This record increase in petrol prices in Rajasthan, when the government here last month cut VAT by 2 percent. After this deduction, VAT on petrol is to be capped at 36 per cent and Rs 1.5 per liter cess. Diesel charges 26 per cent VAT and Rs 1.75 per liter cess here.

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There are two main reasons for the increase in the prices of petrol and diesel. The first reason for this is that the prices of crude oil have increased significantly in the international markets and the second reason is that petroleum products are heavily taxed in India. In the era of Corona virus epidemic, the Central Government increased the Excise Duty per liter of petrol from 19.98 to 32.98 rupees. Similarly, the Excise Duty on diesel was increased from 15.83 to 31.83 rupees. Apart from this, various state governments levy VAT on it.

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