With the decrease in global crude oil price, the State-Run OMCs has cut down the fuel prices on Monday, August 23. On August 22, ‘petrol and diesel prices’ were cut by 20 paise per litre each in the national capital regions.
Now, the petrol price in Delhi stands at Rs 101.64 per litre while diesel is at Rs 89.07. If we talk about the “city of dreams”, petrol costs Rs 107.66, while diesel is retailing at Rs 96.64, as per the data available on Indian Oil Corporation’s website.
In August, the petrol prices have cut down once whereas the diesel rates have reduced on four instances. In July, the prices of petrol were hiked 9 times and diesel rates were raised on five occasions. Initially, in the month of June, fuel prices were hiked on 16 occasions. However, let’s have a look at the fuel prices in different cities of India.
Fuel prices include value-added tax (VAT), excise duty, and dealer commission. VAT may vary from state to state. The retail selling price of fuel prices gets almost doubled after adding dealer commission, excise duty, and VAT.