Unlock 1.0 has been launched in the country and with this, the prices of petrol and diesel have also changed in some states. There was an improvement in the demand for petrol and diesel in the country in May. Now, with further easing in lockdown, demand is expected to increase. In such a situation, it is estimated that oil prices may increase in the coming days.
Price is so high in major metros
Today, the price of one liter of petrol in Delhi, Kolkata, Mumbai, and Chennai is 71.26, 73.30, 78.32, and 75.54 per liter respectively. Talking about diesel, its prices in these metros are 69.39, 65.62, 68.21, and 68.22 respectively.
Tax increased in these states
The government is grappling with revenue shortages due to the Coronavirus epidemic and lockdown, which led to the decision to increase VAT. Since Monday, the government of Maharashtra, Jammu, and Kashmir, Himachal, and Mizoram have increased VAT on oil, after which rates have increased here.
Know how much is the price in your city
You can know the price of petrol and diesel through SMS. According to the website of IndianOil, you have to write RSP and your city code and send it to number 9224992249. The code for each city is different, which you will get from the IOCL website.
Price changes at six o'clock every day
Please tell us that the price of petrol and diesel changes at six in the morning every day. The new rates are applicable from 6 o'clock in the morning. After adding excise duty, dealer commission, and other things to the price of petrol and diesel, its price almost doubles.
How is the price of oil determined?
Petrol and diesel prices change daily, depending on what the crude prices are in the international market along with foreign exchange rates. On the basis of these standards, the oil companies do the work of fixing the petrol rate and diesel rate daily. The dealers are the people running the petrol pumps. They sell themselves at retail prices to consumers after adding taxes and their own margins to consumers. This cost is also added to the petrol rate and diesel rate. Tax on petrol and diesel has been increased to 69 percent in the country, which is the highest in the world. Till last year, there was a 50% tax on petrol and diesel in India.