For the first time, on Thursday, the Diesel price hike in Delhi crossed Rs 80 for a litre. Since June 7, this hike is the 19th consecutive rate hike. Moreover, the petrol price after 17th hikes in a row is selling now at Rs 79.92 for a litre. This is the first time when Diesel prices are more than Petrol prices.
However, the fuel retailers run by states IOC, BPCL, and HPCL did not provide reasons for this price hiked. This price hike is seen even though international oil prices saw a sharp fall.
The Hindustan Times reported what an anonymous ministry official said that the government has no role in the daily revision of fuel prices as they are deregulated products.
The pricings of Petrol and Diesel were deregulated on June 26, 2010, and October 19, 2014, respectively.
Executives of the two public sector oil companies, speaking on condition of anonymity, said petrol and diesel rates are high because of a significant jump in central levies and state-level taxes, while international crude oil prices are low, reported Hindustan Times.
Diesel Prices Crosses 80 Rs. Per Litre For The First Time
BJP leader, Amit Malviya tweeted that diesel costs higher than petrol because of higher levies imposed by the local government.
However, the AAP blamed BJP for this hike.
According to IOC’s website, the total taxes on petrol and diesel are more than their basic rates. While the basic price of petrol in Delhi was Rs 22.11 a litre on June 16, taxes on the fuel (both central excise and state levies) were Rs 50.69 a litre. Similarly, the basic price of diesel was Rs 22.93 a litre, but the total taxes levied on the fuel were Rs 49.43 a litre, reported Hindustan Times.
However, the current pricing details are not disclosed in the IOC’s website. Since mid of March, almost all states have hiked VAT on petrol and diesel, despite low international oil prices.