New Delhi: Fuel prices were hiked for the eighth consecutive day on Tuesday by oil marketing companies, pushing petrol prices above Rs 89 per litre in Delhi.
Petrol prices in Delhi were at record high, after being hiked from Rs 88.99 to Rs 89.29 per litre, a hike of 30 paise. Meanwhile diesel prices were hiked by 30 paise per litre from Rs 79.35 to Rs 79.70 per litre
Here is looking at the price difference of diesel and petrol in four metro cities on February 16, 2021.
Central government makes up for Rs 32.98 per litre of the price of petrol in Delhi and sales tax or VAT of the state government constitutes Rs 19.55.
For diesel, the central excise adds up to Rs 31.83 and VAT to Rs 10.99. Besides, the price also includes a dealer commission of a minimum Rs 2.6 per litre on petrol and Rs 2 on diesel.
Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.
Oil prices soared to their highest in about 13 months as a U.S. winter storm added fuel to their rally on hopes of further demand recovery.
U.S. crude futures traded up 1.1% at $60.11 per barrel, a Reuters report said.