Petrol Diesel Price Today: The 21st of the month has come. If you are preparing to go to the petrol pump today with your car, then first understand the mathematics of oil prices. Oil marketing companies have released new rates of petrol and diesel for today. Today has been a mixed day for common consumers. In some states, the common man has got some relief from inflation, while in some places the burden on his pocket has increased slightly. At the same time, there has been no change in the prices of petrol and diesel in many big cities including Delhi. Let us know how much money you will have to pay for one liter of oil in your city today.
Peace in Delhi-Bengaluru, reduced prices in Chennai-Mumbai
From the country’s capital Delhi, Kolkata, Gurugram to Bengaluru, there is no new surprise for the customers today. Oil companies have not made any change in prices in these cities. Even today Delhiites can fill petrol at Rs 98.64 per litre, while diesel remains at Rs 91.58. Similarly, petrol is being sold at Rs 109.70 per liter in Kolkata, Rs 99.38 in Gurugram, while Rs 107.16 per liter in Bengaluru.
But, if you live in Chennai, Jaipur or Patna, then there is good news for you. In Chennai, petrol has fallen by 35 paise to Rs 104.57, while diesel has become cheaper by 33 paise. In Jaipur, petrol has become priced at Rs 108.70 with a fall of 30 paise. In the financial capital Mumbai, the price of petrol has decreased marginally by 4 paise, while diesel remains stable at Rs 94.08. People of Patna, Lucknow, Chandigarh, Hyderabad have also got the benefit of partial fall in prices today.
Increased tension of customers from Noida to Thiruvananthapuram
On one hand, prices have decreased in some cities, while on the other hand, oil has become expensive in Noida adjacent to Delhi today. In Noida, petrol has increased by 19 paise to Rs 98.65, while diesel has also increased by 19 paise to Rs 91.93 per litre. In Bhubaneswar, petrol has increased by 21 paise to Rs 105.33. Talking about South India, in Thiruvananthapuram petrol has become costlier by 18 paise to Rs 111.71, while diesel has increased by 29 paise to Rs 100.59.
Actually, the reason behind the different fuel prices in every state of the country is the whole tax game. Apart from the price of crude oil in the international market, the position of the rupee against the dollar, along with the excise duty of the central government, the state governments also impose their own Value Added Tax (VAT). For this reason the price of oil is different in every city.
Crude oil prices rise, eyes fixed on American deal
Now the question arises what is going on at the international level? Today again a slight rise in the prices of crude oil has been seen in the global market. Recovering from its previous fall of 5.6 percent, Brent crude is trading above $ 105 per barrel. At the same time, the American benchmark WTI remains around $99. Market experts believe that this rise has come after the statement in which US President Donald Trump has claimed that talks with Iran are in the final stages. This has raised hopes of better global supply in the market. However, since the end of February, crude oil prices have increased by more than 40 percent.
Losses to companies, burden on general public
Despite crude oil becoming increasingly expensive, its direct impact on the general public in India has been minimal. Public sector oil companies themselves bore the burden of rising costs for 76 days. Due to this, government oil companies had to suffer a huge ‘under-recovery’ loss of Rs 24,500 crore. Only after this, the companies have increased the price by a total of Rs 3.91 per liter in two installments.
At the same time, the central government has also tried to control prices by reducing excise duty. Due to reduction in excise duty, the government exchequer has suffered a loss of about Rs 30,000 crore. Due to keeping the domestic gas (LPG) prices stable, the companies have separately suffered a loss of Rs 40,000 crore. If we compare with the rest of the world, petrol has become costlier by 45 percent in America. There has been an increase of more than 50 percent in Myanmar, Malaysia, UAE. In comparison, this growth in India has been limited to only 4.4 percent, which is the lowest among major economies.
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