Petrol Costs Over Rs 75 per Litre In Delhi Today

17 May, 2018, 01:00 | Author: Darrell Lopez
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It was sold at Rs 66.36, Rs 68.90, Rs 70.66 and Rs 70.02 per litre in Delhi, Kolkata, Mumbai and Chennai respectively. In other major cities, petrol prices increased by about 0.2% and diesel prices rose by 0.3%.

Similarly, petrol prices are at Rs 77.79 per litre in Kolkata and Rs 77.93 per litre in Chennai.

This followed public sector oil marketing companies revising the fuel prices across the country, something that they opted for after a gap of nearly three weeks.

Petrol and diesel prices were raised on Monday after an unofficial 19-day freeze that mysteriously melted no sooner than the Karnataka polls had ended.




The petrol prices are Rs77.79 in Kolkata, Rs82.94 in Mumbai and Rs77.93 in Chennai, respectively. With the USA reimposing sanctions on Iran, global oil prices are unlikely to come down any time soon.

The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then also cut the tax once in October previous year by Rs 2 a litre.

"With the revised rate in petroleum products, NOC reaches break-even point, otherwise, it would have suffered Rs 320 million loss", Goit added.

Finance Secretary Hasmukh Adhia and Economic Affairs Secretary Subhash Garg have in the past weeks ruled out any immediate reduction in excise duty to cushion the increases warranted from a spike in global oil price. With crude touching $79.47 a barrel, and the rupee down more than 6 per cent to nearly 68 against the dollar, fuel prices were bound to be affected.

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