Petrol and Diesel Became Expensive for the 10th Time This Month

Today, for the 10th time in this month, the prices of petrol and diesel have been increased. With this increase, petrol has reached Rs 108 a liter and diesel at Rs 101 a liter in the country.
Source: Google/ Image Credit: Dainik Bhaskar
Source: Google/ Image Credit: Dainik Bhaskar

Today, for the 10th time in this month, the prices of petrol and diesel have been increased. With this increase, petrol has reached Rs 108 a liter and diesel at Rs 101 a liter in the country. Diesel has also crossed Rs 100 in Sriganganagar and Hanumangarh in Rajasthan. Talking about Delhi, petrol is getting costlier by 27 paise to 96.93 and diesel by 28 paise to Rs 87.69 per liter. So far this month, petrol has become costlier by Rs 2 70 paise and diesel by Rs 2 by 54 paise.

Petrol crosses 100 in 12 states

Petrol has reached Rs 100 per liter in 6 states of the country. Petrol has reached Rs 100 in all districts of Madhya Pradesh, Andhra Pradesh, Maharashtra, and Rajasthan. At the same time, petrol has crossed Rs 100 a liter in many places in Bihar, Telangana, Karnataka, Jammu and Kashmir, Manipur, Orissa, Tamil Nadu, and Ladakh.

Inflation rising rapidly due to the cost of petrol and diesel

Wholesale inflation has reached a record level due to rising prices of petrol and diesel and increasing manufacturing costs. According to the Ministry of Commerce and Industry, the wholesale inflation rate has reached 12.94% in May. It was -3.37% in May 2020. Inflation based on the Whole Sale Price Index (WPI) rose for the fifth consecutive month in May. Earlier in April also the rate was at 10.49%. In the wholesale inflation released by the government, it was said that inflation has increased due to crude petroleum, mineral oil. Because it made petrol, diesel, naphtha, and manufacturing products expensive.

Source: Google/ Image Credit: Firstpost
Source: Google/ Image Credit: Firstpost

Relief in the prices of crude oil

After the rise of the last several days, there was some relief in the prices of crude oil in the international market on Thursday. Brent crude was down $1.31 a barrel at $73.08 a barrel at the close of trading in the US market yesterday. US West Texas Intermediate or WTI crude (WTI) was also lower by $1.11 at $71.04 a barrel.

The government is charging a heavy tax on petrol and diesel

Petrol and diesel are not expensive in our country, but after the taxation of the government, it becomes very expensive. In our country, the base price of petrol and diesel is still around Rs 33. But the central and state governments tax it and bring it to Rs 100.

On this, the central government is charging Rs 33 excise duty. After this, the state governments charge VAT and Cess on their own, after which their price has increased up to 3 times the base price. In India, more than Rs 54 is taxed on petrol and Rs 44 on diesel.

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