Finance Minister Arun Jaitley, in the last budget of the NDA government in this term, reduced basic excise duty on petrol and diesel by Rs 2 per litre. The move was expected to lessen the impact of rising petrol and diesel prices on a vast consumer base.
Tag Archive: Petrol
Bhubaneswar: In a move that could possibly help in taming spiraling prices, the Union Government on Tuesday announced a reduction in the basic excise duty levied on petrol and diesel.
As per the decision, the basic excise duty rate on petrol and diesel (both branded and unbranded) will be reduced by Rs 2 per litre. The revised rates will be effective from October 4.
Apart from increase in the prices of crude oil in the international markets, the daily revision of fuel prices had also attributed in the steep hike in the diesel and petrol prices, said sources.
“We hope that the prices of petrol and diesel will now come down considerably after the reduction of basic excise duty rate. It is certainly a respite for us as already the prices of fuel had registered a sharp increase in the past one month,” said Kishore Pradhan, a resident of Bhubaneswar.
Official sources said the decision has been taken by the Government to cushion the impact of rising international prices of crude petroleum oil and petrol and diesel.
This will indirectly help in checking the retail sale prices of petrol and diesel and at the same time protect the interest of common man.
New Delhi: Petrol price remained unchanged while diesel prices were reduced by 6 paise per litre, applicable from 6:00 a.m. on 20th September 2017.
Under the dynamic pricing scheme, petrol and diesel prices are revised on a daily basis in sync with global crude oil prices.
Prices of non-branded petrol in metro-cities
Prices of non-branded petrol in metro-cities
Prices of non-branded petrol across state capitals
Prices of non-branded diesel in metro-cities
Prices of non-branded diesel across state capitals
Mumbai, Sept 13: Petrol and diesel prices witnessed a marginal fall on Wednesday even as the overall price remained highest in the past three years. Fuel prices have been on the rise in the past two months. While the prices saw a fall in the initial fortnight since the day dynamic pricing came into effect on June 16, the cost of fuel has been seeing a continuous rise in the past two months. While petrol price has crossed Rs 70 per litre in Delhi, it is close to Rs 80 per litre in Mumbai. Diesel prices also fell marginally on Wednesday across cities.
On Wednesday, September 13, petrol in Delhi cost Rs 70.35 per litre, in Mumbai Rs 79.46 per litre, in Kolkata Rs 73.09 per litre, in Chennai Rs 72.92 per litre and in Bengaluru Rs 71.45 per litre. The last time in the past three years that petrol price was above Rs 70 in Delhi before this was on August 15, 2015, when it went to Rs 70.33 per litre. In Mumbai, the petrol prices have gone above Rs 79 for the first time in the past 3 years.
Meanwhile, petrol prices in Delhi have risen by Rs 7 in over two months, while Mumbai is paying Rs 5 more than what was on July 1. Kolkata and Chennai, too, are paying Rs 7 more than what they were paying for petrol on July 1.
New Delhi, Aug 3: Petrol and diesel prices have gone up again in New Delhi, Mumbai, Kolkata and Chennai for the August 3 dynamic pricing. On Thursday, the petrol prices in New Delhi stands at Rs 65.69 per litre and in Mumbai, it is Rs 74.85. The prices have gone up in both the cities by 22 paise each. In Kolkata and Chennai, it is Rs 68.78 and Rs 68.02 respectively. Diesel prices have also been gone up for August 3. On Wednesday, prices of non-branded diesel in New Delhi were Rs 55.64 and today, it is Rs 55.85. In Mumbai, it was Rs 59.10 and today, it stands at Rs 59.32.
Check the prices for diesel and petrol below.
Prices of non-branded Petrol in metro-cities on August 3
New Delhi, June 16: The rates of petroleum, diesel were cut down today as part of the new system of daily changes in rates of petrol, diesel which will be in sync with any change in international oil rates. After today’s petrol price revision, the rates of petrol prices in four metro cities would be Rs. 65.48 in Delhi, Rs 76.70 in Mumbai, Rs 68.02 in Chennai, and Rs 68.03 in Kolkata. The diesel rates in these cities will be Rs 54.49 in Delhi, Rs 59.90 in Mumbai, Rs 57.41 in Chennai, and Rs 56.65 in Kolkata, according to Indian Oil. The rates of the petroleum products will be changed at 6 AM every day depending on the changes in the prices on the previous day.
Daily revision of retail selling prices (RSP) has already been implemented Udaipur, Jamshedpur, Visakhapatnam, Chandigarh, and Puducherry from May 1 and will be implemented across the country from Friday, June 16.
HERE’S HOW THIS WILL WORK
Every day, the rates of petroleum products would be changed as part of the Petrol Diesel dynamic pricing, according to which the prices will be revised daily.
For daily revisions, the Indian Oil Corporation has set up LED screens at petrol pumps, toll-free number, social media posts, price revision app alerts and SMSes.
Every petrol pump will have dealer’s code which will be prominently displayed to allow consumers to verify the prices through SMS.
Indian Oil said that the dynamic pricing of the fuel products is done to ensure best services in terms of best possible prices to the customers and to ensure transparency in the pricing mechanism. (Also Read: Petrol to be cheaper by Rs 1.12, diesel cost slashed by Rs 1.24 per litre)
Indian Oil had earlier said that the daily shift in prices is to ensure that there isn’t any sudden increase or decrease in domestic fuel prices.
HERE’S HOW YOU CAN CHECK THE FULE PRICE CHANGES
Prices will be communicated to the customers through SMSes, mobile app etc.
Through Mobile App: To check the fuel price changes, people can download the mobile app called “Fuel@IOC – IndianOil” to keep a track and know the daily update in the daily petrol prices in all cities.
The mobile application is available on both Google Play and Apple Store, for Android and iPhone smartphone users respectively.
Through SMS: The daily updated petroleum, fuel prices can also be known through SMS. Customers are required to send a message — RSP< SPACE >DEALER CODE to 9224992249. Note: The dealer code of each petrol pump will now be displayed at every fuel station.
Through Web: The customers can track the daily changes in rates of petrol, diesel at the Indian Oil web page using RO Locator. Visit the Indian oil website, use the RO Locator tool to locate the Indian Oil retail outlet based on the location. The prices of various products will be displayed.