Petrol diesel prices: The prices of petrol and diesel continued to remain unchanged on Tuesday following Finance Minister Nirmala Sitharaman announcing a cut in excise duty on petrol price by 8 per litre, and 6 rupees per litre on diesel on May 21, 2022. Petrol, diesel prices today: check latest rates in major cities.
The excise duty cut reduced of Rs 9.5 a litre on petrol in Delhi and Rs 7 a litre in diesel after taking into account its impact on other levies. The cost of petrol in Delhi on Tuesday is Rs 96.72 per litre while that of diesel is at Rs 89.62. While in Mumbai, petrol price is stationed at Rs 111.35, and diesel is retailing at Rs 97.28, as per data available on Indian Oil Corporation’s website.
Petrol price stands at Rs 102.63 in Chennai, while diesel price stands at Rs 94.24. In Kolkata, petrol is retailing at Rs 106.03 and diesel is sold at Rs 92.76. In Bengaluru, one litre of petrol will cost Rs 101.94 and one litre of diesel will cost Rs 87.89.
Meanwhile, a petrol pump dealers’ association will on Tuesday resort to ‘no purchase of petrol and diesel’ in protest against no increase in their commission by the oil marketing companies, but the protest is unlikely to disrupt supplies as fuel bunks have enough stocks to last couple of days. Petrol Pump Dealers Association said its members in 22 states will join the protest.
Though there was an agreement between oil companies and dealer associations that the dealer margins will be revised every six months, it has not been revised since 2017. The prices of fuel have almost doubled since 2017, hence the working capital in business has doubled leading to additional loans and bank interests thereupon,” the association said in a statement.
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It demanded increase in dealers’ commission immediately. The 22 states where the dealers will be on protest are Tamil Nadu, Karnataka, Kerala, Telangana, Andhra Pradesh, Delhi, Punjab, Haryana, Rajasthan, Gujarat, Maharashtra, Himachal Pradesh, Bihar, Assam, Meghalaya, Arunachal Pradesh, Mizoram, Nagaland, Manipur, Tripura, Sikkim and North Bengal.
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