Updated: March 9, 2021 9:33:51 am
Prices of petrol and diesel remained unchanged for the ninth straight day and to continue at their record highs across the country on Monday, March 8, 2021. They were last changed on Saturday, February 27, 2021, when petrol was hiked by 24 paise per litre and diesel price was raised by 15 paise in the national capital.
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.
Petrol had last month breached the Rs 100-mark in two places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel in the country. In these two cities, the key auto fuel remained steady at Rs 101.84 in Rajasthan’s Sri Ganganagar, while diesel was available at Rs 93.77 per litre. In Madhya Pradesh’s Anuppur, petrol costs Rs 101.59 per litre and diesel is selling for Rs 91.97.
In the first two months of this year, petrol has gone up by Rs 4.87 per litre while diesel rates have increased by Rs 4.99 during this period.
Fuel 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.
The central government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.
On Friday, Finance Minister Nirmala Sitharaman acknowledged that consumers have a case for petrol and diesel prices to be brought down but said a reduction in taxes to make that happen should be a joint call of the central and state governments.
Fuel prices generally get revised on a daily basis in line with benchmark international price and foreign exchange rates.
In the global market, Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities, news agency Reuters reported earlier on Monday.
Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $71.11 a barrel by 0255 GMT, up $1.75 (2.5 per cent). US West Texas Intermediate (WTI) crude for April rose $1.60 (2.4 per cent) to $67.69. The front-month WTI price touched $67.98 a barrel earlier, the highest since October 2018, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Monday, March 8, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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