Business

Check Live New Petrol & Diesel Rates in Your City, 27th August 2018

Check Live New Petrol & Diesel Rates in Your City: Well, you all should know that Petrol Prices are jumping up and down a lot. Diesel prices on Monday hit a record high of Rs 69.46 per litre while petrol rates inched towards Rs 78 a litre mark after a fall in rupee made imports costlier.

Diesel price was on Monday hiked about 14 paise per litre and petrol by 13 paise, according to price notification of state-owned fuel retailers.

The increase pushed diesel price to its highest ever level of Rs 69.46 a litre in Delhi. In Mumbai, the fuel now costs Rs 73.74 a litre.

Also, the prices were marginally lowered on Tuesday due to the downward movement in fuel rates so far this month. Reports are coming that the reduction in petrol prices was in the range of 8-12 paise per liter and came after three consecutive days of no change in prices. People are expecting much change in the price as they were waiting for it for a long time. You all should know that diesel price is steady since consecutive two days.

State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation is currently reviewing the domestic petrol and diesel rates on a daily basis, and announce any changes in rates every morning at 6 am. Some reports are suggesting that the effect will go on from 6 am on Tuesday, June 19, petrol prices were at Rs. 76.27 per liter in Delhi, Rs. 78.94 per liter in Kolkata, Rs. 84.06 per liter in Mumbai and Rs. 79.16 per liter in Chennai, according to Indian Oil Corporation.

The central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.

This led to its excise collections from petro goods more than doubling in last four years – from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18. States saw their VAT revenue from petro goods rise from Rs 1,37,157 crore in 2014-15 to Rs 1,84,091 crore in 2017-18.

Well, you all should know that State-run oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum completed a year of daily review of petrol and diesel prices across the country. Also, the Prior to June 16, 2017, petrol and diesel prices were revised on the twice-a-month basis.