For the first time, diesel price has crossed the petrol as fuel prices hiked for the 18th day in a row on Wednesday, June 24.
The diesel price received a hike by 48 paise while petrol prices remained constant.
Diesel now costs Rs 79.88 per litre while petrol is at Rs 79.76 per litre in the national capital as per the revised rates.
Petrol and diesel prices at Rs 79.76/litre (no increase) and Rs 79.88/litre (increase by Rs 0.48), respectively in Delhi today. pic.twitter.com/ojKPS2XzfU
— ANI (@ANI) June 24, 2020
In other states, the prices will also increase, however, diesel still continues to be cheaper due to lower taxes levied by states, though the gap between the two fuel prices will shrink further.
The price of petrol has been hiked by a cumulative Rs 8.50 per litre, diesel by Rs 10.48 a litre in the national capital, respectively over the past 18 days.
VAT on petrol was hiked to 30% from 27% while VAT on diesel was increased to 30% from 16.75% by the Aam Aadmi Party government in Delhi
As per the government data, the gap was at its widest at Rs 30.25, or nearly 74%, on June 18, 2012, when petrol cost Rs 71.16 a litre and diesel Rs 40.91 in Delhi. In Mumbai, the maximum gap was at Rs 31.17 on June 28 the same year when petrol sold at Rs 76.45 a litre and diesel was at Rs 45.28.
The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel.
The two hikes help the government mop up additional tax revenues worth Rs 2 lakh crore.
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