There has been no increase in the prices of petrol and diesel for about two and a half months now
In July the retail inflation showed some signs of moderation. However, the wholesale price inflation continued to remain in double digits.
After adding central excise, dealer commission, and value-added tax (VAT) to base oil prices, the retail price of petrol and diesel is determined
The excise collection on petroleum products in April-September 2021 quarter was 79% more compared to the pre-Covid levels
The sudden surge comes on the back of international oil prices touching a three year high, with Brent trading at $78.64 per barrel
The demand for petrol is really strong right now in the economy. It is rising due to the surge in personal mobility.
Over the last fortnight, oil prices have increased by about $3 per barrel, which should logically have pushed the petrol prices at around Rs 2/litre
After easing out of restrictions with Covid-19 cases declining in June, the fuel demand signaled signs of resurgence.
Petrol Prices Today (2 September 2021): In Delhi, a litre of petrol and diesel is available for Rs 101.34 and Rs 88.77, respectively
Petrol Prices Today (1 September 2021): In Delhi, a litre of petrol and diesel is available for Rs 101.34 and Rs 88.77, respectively