Diesel and diesel prices have taken the longest break in recent weeks in the upward rally that has continued in recent months. Gasoline and diesel prices last rose on Saturday and are static for the last three days in a row.
(Read also: Govt’s Special Tax on Gasoline, Diesel Jumps to 88% ₹3.35 lakh cr FY21ean)
Oil is selling out today ₹101.84 liters per liter in Delhi, while the price of diesel in the national capital ₹89.87 liters. Mumbai is selling gasoline and diesel at all meter cities in India at the highest prices.
With the steady rise in prices over the past two months, gasoline prices have skyrocketed ₹100 brands in various states and cities. It costs engine fuel today ₹In all cities of 100 liters per meter. The price of diesel has also exceeded a century in some places.
This is the first time that gasoline and diesel have crossed paths ₹100 brands anywhere in India. The last three-day break in price increases is due to the fact that global developments in oil production have softened crude prices.
The price of gasoline and diesel bombs is made up of several components. These include freight costs, excise duties, variable amounts of VAT in different states, sales commission, etc. Special taxes are imposed by the state government and VAT by the state government. State and state government taxes combined, 60% on the retail price of gasoline and 54% on the price of diesel.
When oil and diesel prices rose rapidly, the governments of some states reduced their tax rates a few months earlier. The central government has refused to reduce the fuel tax, despite calls from various actors.
The price of diesel in 2010 has increased 39 times, this year the price of diesel has risen 36 times between April and June this year. The government has reported a 88% increase in fuel tax revenue ₹3.35 lakh million in the last tax year ₹1.78 lakh million in FY20.