While the FM has ostensibly got her act right on imposing the levy without punishing the consumer, questions about the share of states, the rate structure and the use of funds remain
Petrol and diesel prices on Wednesday scaled new highs in the country as rates were hiked for the second day in a row
Company aims to have 7,400 petrol pumps by 2024-end
The fuel prices increased close to 35 paise per litre, but the exact amount varied from state to state depending on their local levies
Petrol and diesel prices were last raised by 25 paise per litre on January 27, according to a price notification from oil marketing companies
Rates differ from state to state, depending on value-added tax (VAT). Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates
The state finance department late Thursday issued orders, which came into effect from Thursday midnight
Rates differ from state to state, depending on value-added tax. Petrol and diesel prices are revised on a daily basis
The price hike on Monday came after three days of unchanged rates.
With Monday's increase, petrol is being sold at Rs 84.95 a litre in Delhi from previous day price of Rs 84.70 a litre
In Mumbai, petrol was sold at Rs 90.83 a litre and diesel for Rs 81.07 a litre.
Diesel prices too were same as the previous levels. In Delhi, Mumbai, Chennai and Kolkata, diesel was sold for Rs 73.87, Rs 80.51, Rs 79.21 and Rs 77.44 per litre, respectively, all unchanged levels
The rise in crude oil prices may dent marketing margins if not passed on, however, some say OMCs may have a cushion to absorb
Demand for petrol is now higher than last year, while demand for diesel continues to lag behind
The current price of petrol in Delhi is nearly 60 paise short of breaching the all- time high of Rs 84 per litre recorded in October 2018
Petrol price breached the Rs 83-a-litre mark in Delhi for the first time in more than two years after a rally in international oil prices forced a 13th increase in rates in a fortnight
In nine days, petrol price has gone up by Rs 1.07 per litre and diesel rate has risen by Rs 1.67.
The Indian basket crude oil touched $47.41 a barrel on November 26 as against average crude oil prices of $41 a barrel in the first fortnight of November this year
This is the first revision in petrol prices since September 22. Diesel rates hadn't changed since October 2.
Even as consumers continue to pay higher prices for petrol and diesel, country's OMCs are expected to reap in higher margins on sale of the two products substantially improving their profitability