Petrol and Diesel Fresh Prices Announced

Parikshith Reddy
Petrol and diesel

Petrol and Diesel Prices Remain Unchanged for 13th Consecutive Day in India

The prices of petrol and diesel remained constant in India on Tuesday, July 11, 2023. This is the 13th consecutive day that the prices of petrol and diesel have remained unchanged.

In Delhi, petrol is currently being sold at Rs 96.72 per litre and diesel at Rs 89.62 per litre. In Hyderabad, petrol is priced at Rs 109.66 per litre and diesel at Rs 97.82 per litre. In Mumbai, petrol is priced at Rs 106.31 per litre and diesel at Rs 94.27 per litre. In Kolkata, petrol is priced at Rs 106.03 per litre and diesel at Rs 92.76 per litre. And in Chennai, petrol is priced at Rs 102.63 per litre and diesel at Rs 94.24 per litre.

The prices of petrol and diesel are revised on a daily basis in India, based on global crude oil prices. The prices are also influenced by factors such as demand and supply, and taxes levied by the central and state governments.

The current high prices of petrol and diesel have been a major source of concern for consumers in India. The prices have been rising steadily in recent months, and this has put a strain on household budgets.

The government has taken some steps to try to control the rising prices of petrol and diesel. In May 2022, the government cut excise duty on petrol and diesel by Rs 8 and Rs 6 per litre, respectively. However, the prices of petrol and diesel have continued to rise since then.

It remains to be seen whether the government will take any further steps to control the rising prices of petrol and diesel. In the meantime, consumers will have to continue to bear the burden of high fuel prices.

Why are petrol and diesel prices increasing in India?

There are a number of factors that have contributed to the rising prices of petrol and diesel in India. These include The rise in global crude oil prices. The price of crude oil has been rising steadily in recent months, due to factors such as the Russia-Ukraine conflict and the ongoing COVID-19 pandemic.

The increase in taxes levied by the central and state governments. The central government levies excise duty on petrol and diesel, and state governments also levy their own taxes on these fuels. These taxes have been rising in recent years, which has put upward pressure on the prices of petrol and diesel.

The decline in the value of the Indian rupee. The Indian rupee has been depreciating against the US dollar in recent months. This has made it more expensive to import crude oil, which has also contributed to the rising prices of petrol and diesel.

What can be done to control the rising prices of petrol and diesel?

There are a number of steps that the government could take to control the rising prices of petrol and diesel. These include:

Reducing taxes levied on petrol and diesel. This would immediately reduce the prices of these fuels.

Increasing domestic production of crude oil. This would help to reduce India’s dependence on imports and could help to stabilize the prices of petrol and diesel.

Promoting the use of alternative fuels, such as ethanol and compressed natural gas (CNG). This would help to reduce the demand for petrol and diesel and could help to bring down the prices of these fuels.

The government will need to take some combination of these steps in order to control the rising prices of petrol and diesel. However, it is important to note that there is no easy solution to this problem. The global crude oil market is volatile, and the prices of petrol and diesel are likely to continue to fluctuate in the future.

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