This Article is From Jul 07, 2020

Diesel Price Hits All-Time High In Delhi As Rates Increase After A Week

On 24 June, diesel became costlier than petrol in Delhi for the first time ever and has remained so, since then

Diesel Price Hits All-Time High In Delhi As Rates Increase After A Week

Diesel price hit an all-time high in Delhi on Tuesday

Diesel price in the national capital on Tuesday touched an all-time high following a rate hike after a week-long hiatus. On Tuesday, diesel price was increased by 25 paise per litre, taking the retail selling price of diesel to Rs 80.78 per litre in the national capital - the highest ever. Petrol prices however remained unchanged on Tuesday. On 24 June, diesel became costlier than petrol in Delhi for the first time ever and has remained so, since then.

Diesel is costlier than petrol only in Delhi among the four metros, as the rates differ from state to state depending upon the value added tax (VAT). The Delhi government had on 5 May hiked the value-added tax (VAT) on diesel from 16.75 per cent to 30 per cent, and on petrol from 27 per cent to 30 per cent, which has led to a rise in the actual tax incidence every single time oil companies raise retail selling price.

Here are the latest petrol and diesel prices in metros (in rupees per litre):

CityPetrolDiesel
Delhi80.4380.78
Kolkata82.1075.89
Mumbai87.1979.05
Chennai83.6377.91
                                                               (Source: Indian Oil)

Meanwhile, oil prices cautiously rose in early trade on Tuesday with major producers sticking to supply cuts, but gains were capped as US coronavirus cases surged, potentially hampering a recovery in fuel demand. US West Texas Intermediate (WTI) crude futures climbed 13 cents, or 0.3 per cent, to $40.76 a barrel at 0103 GMT, recouping a 2 cent loss from Monday.