Diesel price in India today: Will Kolkata reach Rs 69 per litre-mark?, check rates here
There is limited room for making cut in fuel prices mainly because global crude oil have continued to edge up, government and state are reluctant in trimming down excise duty and VAT.
Diesel price in India today: Unlike petrol prices, the state-owned Oil companies have been increasing the price of diesel at much higher rate, and Sunday was no different as the price of this product was raised in the range of 19 paisa to 21 paisa per litre in various state capital of India. With the massive increase, diesel has now become more expensive in cities like Mumbai and Chennai as the rates of both cities are over Rs 69 per litre. Surprisingly, looks like another metro city will soon join Rs 69 per litre club in diesel prices. On the other, petrol price just saw hike between 19 paisa to 20 paisa each per litre.
There is limited room for making cut in fuel prices mainly because global crude oil have continued to edge up, government and state are reluctant in trimming down excise duty and VAT. The diesel prices are at record-high in the NDA government regime, renewing calls for cut in excise duty to ease burden on consumers.
Diesel price in New Delhi: Diesel price in the national capital was available at Rs 65.65 above 19 paisa compared to previous day prices of Rs 65.46 per litre.
Diesel price in Kolkata: Similarly, diesel price in this city also surged by 19 paisa and was valued at Rs 68.65 per litre in comparison with previous day price of Rs 68.16 per litre. Considering that the government has ruled out excise duty cut and has asked OMCs to absorb Rs 1 per litre hike, the price of diesel can reach Rs 69 per litre in Kolkata.
Diesel price in Mumbai: Shockingly, the diesel price in Mumbai has neared Rs 70 per litre-mark. Today, the price was valued at Rs 69.91 per litre above 21 paisa as against previous day price of Rs 69.70 per litre.
Diesel price in Chennai: The product in this city saw the biggest hike over the last few days, so much so, that Chennai would be second metro city to witness Rs 69-per litre mark after Mumbai. However today, the price of this product stood at Rs 69.27 per litre higher by 21 paisa compared to previous day price of Rs 69.06 per litre.
Diesel prices in other state capitals: The product in Bangalore was available at Rs 66.76 per litre, Bhopal at Rs 69.08 per litre, Bhubaneswar at Rs 70.44 per litre, Chandigarh at Rs 63.74 per litre, Dehradun at Rs 65.94 per litre, Gandhinagar at Rs 70.51 per litre, Hyderabad at Rs 71.33 per litre, Jaipur at Rs 69.96 per litre, Lucknow at Rs 65.77
per litre, Patna at Rs 70.29 per litre, Raipur at Rs 70.90 per litre and Srinagar at Rs 68.96 per litre.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
Earlier Oil Ministry had sought a reduction in excise duty on petrol and diesel to cushion the impact arising out of international oil rates but Finance Minister Arun Jaitley in his Budget presented on February 1 made no concessions.
Meanwhile, international crude oil prices edged up on Friday, stabilizing after an earlier slide driven by U.S. President Donald Trump`s criticism of OPEC`s role in pushing up global oil prices.
Moreover, Brent crude oil futures gained 28 cents, or 0.4 percent, to settle at $74.06 per barrel. West Texas Intermediate crude futures for delivery in June, the most active U.S. contract, were up 7 cents at $68.40. The May WTI contract, which expired on Friday, gained 9 cents, or 0.1 percent, to settle at $68.38.