There was no change in the prices of petrol and diesel on Tuesday after Finance Minister Nirmala Sitharaman announced reduction of excise duty on petrol by Rs 8 per liter and diesel by Rs 6 per liter on May 21, 2022. 9.5 liters on petrol in Delhi and Considering its impact on other duties, diesel has been hiked by Rs 7 per litre.
price of petrol is in delhi on tuesday 96.72 per liter while that of diesel 89.62. While the price of petrol in Mumbai is stable 111.35, and is retailing at Diesel 97.28, as per data available at Indian Oil Corporationwebsite of. petrol price stand 102.63, while diesel price in Chennai is 94.24. Petrol retailing in Kolkata 106.03 and diesel is sold at 92.76. One liter of petrol will be charged in Bangalore 101.94 and one liter diesel will cost 87.89.
Meanwhile, a petrol pump dealers’ association will resort to ‘no purchase of petrol and diesel’ on Tuesday to protest against oil marketing companies not increasing their commission, but the protest is unlikely to disrupt supplies as fuel bunks has sufficient stock. last few days. The Petrol Pump Dealers Association said its members in 22 states would join the protest.
“Although there was an agreement between oil companies and dealer associations that dealer margins would be revised every six months, it has not been revised since 2017. Fuel prices have almost doubled since 2017 so the business is functional. The capital has been doubled for additional loans and thereafter for bank interests,” the association said in a statement.
Industry officials said that petrol pumps do not require daily refills and their storage tanks supply enough to last a few days.
“The evaporation losses have increased proportionately. Besides, the overhead expenses like bank charges, electricity bills, salaries etc. have increased manifold during the last five years. Our constant demand to revise dealer commission has been attributed to OMCs (Oil Marketing). companies). By doing so, OMCs are making their network financially impractical.”
It demanded an immediate increase in dealers’ commission. The 22 states where the dealers will 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.
(with inputs from agencies)