Petrol and diesel prices were hiked by 80 paise per liter today, taking the total increase in rates in the last 13 days to Rs 8 per litre.
The price of petrol and diesel in Delhi has now gone up to Rs 103.41 per liter and Rs 94.67 per liter (an increase of 80 paise). In Mumbai, the price of petrol and diesel is Rs 118.41 (an increase of 84 paise) per liter and Rs 102.64 (an increase of 85 paise) per litre.
Rates have been increased across the country and vary from state to state based on local taxation events. This is the 11th increase in prices since the end of a four-and-a-half-month long gap in the rate revision on March 22.
Prices today in major metros
Delhi Petrol Rs 103.41, Diesel Rs 94.67 per liter
Mumbai Petrol Rs 118.41, Diesel Rs 102.64 per liter
Chennai Petrol Rs 108.96, Diesel Rs 99.04 per liter
Kolkata Petrol at Rs 113.03, Diesel at Rs 97.82
Nomura in a recent report sees a further hike in prices for petrol and diesel by Rs 12 (assuming global petrol/diesel prices are at $132-136 a barrel, which is comparable to the price of Brent crude at $112 a barrel). corresponds to).
LPG prices have been increased by Rs 50 per cylinder for a 14.2 kg cylinder. Nomura said the high cost of fuel, including high gas prices, would make transportation services costlier – railways, buses, taxis/auto rickshaws, school buses and airfares (the latter reflects aviation turbine fuel prices. Cumulatively, Transportation services accounted for 2.45.5% of the CPI (Consumer Price Index) basket.
However, the rating agency believes that the government can mitigate the impact by cutting excise duty by no more than Rs 5 per liter for petrol and Rs 10 per liter for diesel announced in 2021.
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