It’s a rarest of rare occasion, when the price of diesel has surpassed the price of petrol.
On Wednesday, with a 48 paise pump again, diesel has become the most expensive auto fuel in the country. After 17 consecutive spikes, deisel is now available at Rs. 79.88/liter and Petrol at Rs. 79.66/litre in the capital.
With the consistent increases that were coming in the past few days, it was evident that diesel may surpass the price of petrol.
When compared to the price surge in other metro cities, petrol tops the list of being the most expensive amongst the fuel prices. There is a minimum differential of Rs. 5 in every other metro city between petrol and diesel rates as of now.
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What could be a probable reason behind the surge in the fuel prices in the capital, is the Delhi government’s decision of early May, when they decided to increase Value Added Tax on diesel from 16.75 % to 30% and on petrol from 27% to 30%. Apart from this, the central excise on both the fuels has also reached identical rates with excise on petrol at Rs. 32.98/liter and on diesel at Rs. 31.83/litre.
As per Indian Oil corporation, even the base price of diesel (rs. 22.93) is higher than thwt of petrol ( Rs. 22.11) in Delhi.
In the last month, the country has repeatedly observed hikes in petrol and diesel prices pumped by oil companies which have added an economic burden on the falling economy.
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