Oil companies have now raised the price of diesel by 30 countries per liter, making it almost more expensive ₹12 liters since May 4th. The latest rise comes as part of a review of rising prices over almost every other day over the past 75 days.
Diesel continues to be saved from other hikes for now, as oil companies remained unchanged in fuel prices.
In Delhi today the price of diesel has been touched ₹ ₹After a new ride of 101.84 liters. Delhi was one of the last major cities in India earlier this month when gasoline saw a mark of Rs-100 per liter.
The price of Mumbai diesel is rising as the recent rise approaches ₹108 liters. It will cost a liter of gasoline ₹107.83 today in the capital Maharashtra. The price of gasoline in Kolkata is double ₹102.08 liters, while the price ₹102.49-liter Chennai and ₹105.25 per liter in Bengaluru.
The latest rises have come at a time when global crude oil prices have risen in recent days. Since the beginning of the month, international oil prices have been relatively volatile, with Brent crude jumping $ 77.16 a barrel, the highest in three years. However, after resolving supply issues, the price of a barrel fell to $ 73.59 on July 16th.
To lower India’s fuel cost, the center has set a target of mixing 20 percent ethanol gasoline over the next three years. On Friday, Union Trade and Industry Minister Piyuh Goyal said the government’s ultimate goal is to have vehicles with 100 per cent ethanol. Gasoline mixed with ethanol is likely to be much lower than it is today.
The reason for the high price of gasoline and diesel in India is due to the tax structure. Today, central and state taxes contribute more than 50 percent of the price of gasoline and diesel. For example, in Delhi, 33.29% of the price of gasoline is taxed by the Center and 23.07% as a result of state taxes. In the case of diesel, central taxes are higher at 35.66%, and state taxes are around 14.62%.