Fuel prices continue to rise: Price of DIESEL increases by 15, PETROL by 14 paisa today

Diesel has reached at its highest price. The rise in diesel price is likely to affect the prices of other goods since it is responsible for transport of goods. If diesel price increases, the price of goods would also increase in the market. Plus, the gap between petrol and diesel prices has substantially reduced.

New Delhi: The fuel prices continue to dig deeper holes in the pockets of the consumer as the prices consistently rise. The prices have peeked again on Tuesday, with diesel prices increasing by 15 paisa/ litre and petrol price increasing by 14 paisa/ litre. In Delhi, the current petrol price has reached Rs 78.05 per litre and Diesel price has reached Rs 69.61 per litre. Yesterday, the diesel rate was Rs 69.46/ litre and petrol rate was Rs77.91 per litre. Diesel prices reach its highest! Diesel has reached at its highest price. The rise in diesel price is likely to affect the prices of other goods since it is responsible for transport of goods. If diesel price increases, the price of goods would also increase in the market. Plus, the gap between petrol and diesel prices has substantially reduced. In Mumbai petrol has crossed Rs 85 mark and diesel is on the verge of crossing Rs 70 mark in Delhi. Diesel which costs Rs 41 reaches Rs 70 after taxes: As per government’s claims, the market decides the price of the fuel and not them; but the government doesn’t reveal the amount of taxes that goes into its pockets from the taxes levied on the fuel. The cost of diesel is Rs 41, whereas after levying a tax on it, the companies sell it for Rs70/ litre; which means on every litre petrol, the government is earning Rs 29. How much tax is put on diesel? Cost of diesel: Rs 41.04 Central government tax: Rs 15.33 State government tax: Rs10.16 Total tax: Rs 25.49 Dealer commission: Rs2.51 Total cost: Rs 69.04 (Rate as on Aug 20) Likewise on petrol similar taxes are levied: Cost of petrol: Rs 37.93 Central government tax: Rs 19.48 State government tax: Rs 16.47 Total Tax: Rs 35.95 Dealer commission: Rs 3.61 Total cost: Rs77.49 (Rate as on Aug 20)