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Petrol Diesel Price: Why did petrol-diesel prices rise so fast in the country? When will it be cheaper?

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Petrol-diesel prices in the country have skyrocketed. In many cities, a liter of petrol costs around a hundred rupees. So when will petrol-diesel prices come down? Such a question has been asked by many. Union Petroleum Minister Dharmendra Pradhan on Wednesday (February 10) in the Rajya Sabha explained the reason behind the hike in petrol-diesel prices. Petrol-diesel prices in the country are on the rise due to rising crude oil prices in the international market, he said. If the government reduces taxes on petrol and diesel, prices may fall. However, he clarified that the central government has not given any thought to tax reduction (Petrol Diesel price when will be reduced in India).

When will petrol-diesel become cheaper?

Asif Iqbal, Head of Research, Escort Security, spoke to TV9. When will they reduce petrol-diesel prices this time? Give your opinion on this question. “If the central and state governments reduce taxes on petrol and diesel a little, prices can go down,” he said. But the central government is not willing to raise the price of petrol-diesel at present (Petrol Diesel price when it will decrease in India).

Excise duty and VAT have increased the tax burden on the common man. Notably, the government had doubled the excise duty during the Corona period. Excise duty on petrol was hiked by Rs 17 per liter and diesel by Rs 16 per liter. State governments collect VAT on excise duty. If it is reduced, petrol can be cheaper by Rs 20 today.

Why are prices rising?

Petrol-diesel prices are rising due to increase in crude oil prices in the international market. This was the first time since the Corona crisis. Brent crude crossed 61 61 a barrel yesterday. As a result, both fuels became more expensive in the domestic market today. State-owned oil companies today hiked both petrol and diesel prices by 30 and 25 paise per liter, respectively. Yesterday, the price of this fuel was increased by 35 to 35 paise per liter. In Delhi, petrol was priced at Rs 87.60 per liter and diesel at Rs 77.73 per liter on Wednesday

Petrol rates in major cities

Mumbai (Mumbai Petrol Price Today): Rs 94.12 per liter
Nashik (Nashik Petrol Price Today): Rs 93.65 per liter
Pune (Pune Petrol Price Today): Rs 93.54 per liter
Nagpur (Nagpur Petrol Price Today): Rs 94.33 per liter
Delhi (Delhi Petrol Price Today): Rs 87.60 per liter
Kolkata (Kolkata Petrol Price Today): Rs 88.92 per liter
Chennai (Chennai Petrol Price Today): Rs 89.96 per liter

Diesel rates in major cities

Mumbai (Mumbai Diesel Price Today): Rs 84.63 per liter
Nashik (Nashik Diesel Price Today): Rs 82.92 per liter
Pune (Pune Diesel Price Today): Rs 82.81 per liter
Nagpur (Nagpur Diesel Price Today): Rs 84.91 per liter
Delhi (Delhi Diesel Price Today): Rs 77.73 per liter
Kolkata (Kolkata Diesel Price Today): Rs 81.31 per liter
Chennai (Chennai Diesel Price Today): Rs 82.90 per liter

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