The gap between the price of petrol and diesel per litre, in India, seems to be getting lesser with time, leaving some consumers red faced. There is some good news though for those who drive petrol vehicles as the government has announced a reduction of INR 1.09 per litre in the price. On the other hand, diesel has now become costlier by 56 paise per litre after the Indian Oil Corporation made an official announcement on 31st July.
Though the quantum of reduction in the price of petrol will not make any sort of difference on the pockets of consumers, the Indian mentality will see them get definite by rates going down.
The price of petrol per litre in Delhi is now INR 72.51 as compared to the previous rate of INR 73.60 a litre. Diesel, now, comes at a rate of INR 58.4, an approximate 60 paise hike from the former rate of INR 57.84. The main cause of a drop in the rate of petrol was the fall in international oil rates along with depreciation of Rupee against the United States dollar, which made imports cheaper.
Rates of bulk diesel have been slashed by 72 paise per litre on similar grounds. The price of bulk diesel was changed last time on 16th July when rates were slashed by INR 1.09, making it INR 59.32 per litre. It is allowed only for consumers including state transport corporations, defence and railways. Other than these, the per cylinder price of non-subsidised LPG cylinders has seen a cut of INR 2.50.
The prices of petrol have been controlled pretty well in the past two three months due to the declining trends in the international market. April 16th saw the last cut in price of petrol by 70 paise, which became 85 paise after application of VAT and local taxes.
Firms in the petroleum industry, usually, make announcements regarding price cuts without including local additions but this time saw a different method being applied in order to make headlines better. As far as diesel is concerned, the price hike was around 50 paise excluding local additions, which, when added, changed rates to 56 paise per litre the national capital New Delhi.
