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Fuel price update: Petrol, diesel remain stable for 2nd day after touching record high-levels

Currently, the price of one litre of petrol stands at Rs 91.17 per litre in Delhi, and diesel rates stand at Rs 8.47 per litre. In Mumbai, the price of petrol is Rs 97.57 per litre, and that of a litre of diesel is Rs 88.60 per litre

twitter-logoBusinessToday.In | March 1, 2021 | Updated 09:39 IST
Fuel price update: Petrol, diesel remain stable for 2nd day after touching record high-levels
Prices of petrol and diesel increased 14 times in February. Overall, petrol rates went up by Rs 4.22 per litre and Rs 4.34 a litre for diesel in Delhi

Fuel prices has remained unchanged across all metros for the two consecutive days. The last increase was seen on February 27 when oil marketing companies increased the fuel rates between 20-30 paise per litre.

Currently, the price of one litre of petrol stands at Rs 91.17 per litre in Delhi, and diesel rates stand at Rs 8.47 per litre. In Mumbai, the price of petrol is Rs 97.57 per litre, and that of a litre of diesel is Rs 88.60 per litre. Similarly, in all other metros, petrol is over Rs 90 a litre mark, while diesel is over Rs 80 a litre.

In February, fuel prices flared up like never before in the country. In some places, branded petrol crossed Rs 100 mark and in Delhi, it crossed Rs 90 mark for the first time.

Prices of petrol and diesel increased 14 times in February. Overall, petrol rates went up by Rs 4.22 per litre and Rs 4.34 a litre for diesel in Delhi. In 2021 so far, petrol and diesel prices have increased 26 times, with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively.

As the fuel prices surged to record high-level last month, the opposition parties slammed the Centre for remaining inconsiderate towards common man's ordeal. Ahead of the assembly election in five Indian states, fuel prices have also become a political issue.

While Union Finance Minister Nirmala Sitharaman has said the states and Centre should discuss the issue, the opposition is demanding a cut in the Centre's excise duty.

It must be noted that central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. And, merely, a small portion of the domestic hike is due to the impact of international crude prices.

Yesterday, Chief Economic Advisor K V Subramanian has backed a proposal to bring petroleum products under the ambit of the Goods and Services Tax (GST). Petroleum Minister Dharmendra Pradhan also urged Union Finance Minister Nirmalya Sitharaman to bring petroleum products under the ambit of the GST.

Meanwhile, oil companies' executives said that petrol and diesel prices may increase further in the coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making a loss on the sale of auto fuels.

Check latest and revised petrol prices today

  • Price of petrol in Delhi today,  March 1- Rs 91.17/litre
  • Price of petrol in Mumbai today, March 1-Rs 97.57/litre
  • Price of petrol in Chennai today, March 1-Rs 93.11/litre
  • Price of petrol in Kolkata today, March 1-Rs 91.35/litre
  • Price of petrol in Hyderabad today, March 1-Rs 94.79/litre
  • Price of petrol in Bengaluru today, March 1-Rs 94.22/litre
  • Price of petrol in Gurgaon today, March 1- Rs 88.94/litre
  • Price of petrol in Noida today, March 1-Rs 89.36/litre

Check latest and revised diesel prices today

  • Price of diesel in Delhi today, March 1- Rs 81.47/litre
  • Price of diesel in Mumbai today, March 1- Rs 88.60/litre
  • Price of diesel in Chennai today, March 1-Rs 86.45/litre
  • Price of diesel in Kolkata today, March 1- Rs 84.35/litre
  • Price of diesel in Hyderabad today, March 1- Rs 88.86/litre
  • Price of diesel in Bengaluru today, March 1-Rs 86.37/litre
  • Price of diesel in Gurgaon today, March 1- Rs 81.90/litre
  • Price of diesel in Noida today, March 1- Rs 81.89/litre

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