March 23, 2021 10:08:41 am
Petrol and diesel price today: Prices of petrol and diesel were steady for the 24th consecutive day at their record highs across the country on Tuesday, March 23, 2021. Auto fuel prices have not been revised so far in the month of March and were last changed on February 27, 2021, when petrol was hiked by 24 paise per litre and diesel was raised by 15 paise.
Petrol price in Delhi stands at Rs 91.17 per litre while diesel is available for Rs 81.47. In Mumbai, petrol is retailing at Rs 97.57, while diesel costs Rs 88.60, data available on Indian Oil Corporation’s website showed.
During the first two months of 2021, petrol price went up by Rs 4.87 per litre while diesel rates increased by Rs 4.99.
Petrol and diesel prices differ from state to state as taxes get levied on them by both central as well as state governments along with the freight charges.
The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
The government’s tax collections on petrol and diesel have jumped over 300 per cent in the last six years as excise duty on the two fuels was hiked, Lok Sabha was informed on Monday. The collections on petrol and diesel rose to Rs 2.94 lakh crore in the first 10 months of the current fiscal (2020-21), Minister of State (MoS) Finance Anurag Thakur said in a written reply in Lok Sabha.
The fuel prices are generally revised on a daily basis in line with benchmark international price and foreign exchange rates.
In the global market, oil prices fell 1 per cent on Tuesday on concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in fuel demand and as producers cut prices, indicating ample oil supply, Reuters reported earlier in the day.
US West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents (1 per cent) to $60.94 a barrel at 0149 GMT. The April contract expired on Monday at $61.55, up 13 cents from Friday, after plunging more than 6 per cent last week. Brent crude futures for May dropped by 68 cents (1.1 per cent) to $63.94, erasing a 9 cent gain in the previous session, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, March 23, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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