Business Desk, Web4Study, New Delhi
Updated Fri, 24 Apr 2020 10:02 AM IST
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Price is so high in major metros
According to the IOCL website, the price of one liter of petrol in Delhi, Kolkata, Mumbai and Chennai today is 69.59, 73.30, 76.31 and 72.28 respectively. Talking about diesel, its prices in Delhi, Kolkata Mumbai and Chennai are 62.29, 65.62, 66.21 and 65.71 respectively. In Assam, the government has increased VAT on petrol and diesel, after which its price rose there. Petrol in Assam has been increased to Rs 77.46 and diesel to Rs 70.50 per liter.
Price changes at six o’clock every day
Please tell that the price of petrol and diesel changes at six in the morning every day. The new rates are applicable from 6 o’clock in the morning. After adding excise duty, dealer commission and other things to the price of petrol and diesel, its price almost doubles.
This is the basis for fixing the price
Petrol and diesel prices change daily, depending on what the crude prices are in the international market along with foreign exchange rates. On the basis of these standards, the oil companies do the work of fixing the petrol rate and diesel rate daily.
Dealers also add their margin
The dealers are the people running the petrol pumps. They sell themselves at retail prices to consumers after adding taxes and their own margins to consumers. This cost is also added to the petrol rate and diesel rate.