Petrol, diesel prices remain at record high levels
Premium- The difference in petrol, diesel prices in states occurs on account of local taxes like VAT or freight charges
Petrol and diesel prices remained unchanged on Friday after being hiked on Thursday, according to a price notification by state-owned fuel retailers. Petrol prices were hiked by up to 35 paise whereas diesel prices were increased by 15 paise across metros on Thursday.
In Delhi, petrol remained at ₹101.54 in the national capital, whereas diesel is retailing at ₹89.87. In India's financial capital Mumbai, petrol is being sold at ₹107.75 per litre, whereas diesel price at ₹97.45 per litre. In Kolkata, petrol price reached ₹101.74 per litre whereas diesel price remained at ₹93.02 per litre.
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The difference in prices in states occurs on account of local taxes like VAT or freight charges. Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Amid record high fuel prices, India has reached out to UAE as part of its energy security efforts, with the newly appointed Union cabinet minister Hardeep Singh Puri on Wednesday holding a telephone conversation with Dr Sultan Ahmed Al Jaber, the oil rich nation’s industry and advanced technology minister.
“Had a warm courtesy call with HE Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and MD & Group CEO of @AdnocGroup. Discussed ways and means to invigorate the vibrant bilateral strategic energy partnership between India and UAE," Puri said in a tweet on Wednesday.
With three million barrels per day of crude oil production, Adnoc is the world’s 12th-largest producer. The UAE is a member of the Opec, which accounts for a major part of India’s total crude oil imports and 40% of global production.
This assumes importance, given that diesel and petrol prices have already breached the ₹100 mark in several parts of India. India has been flagging its concerns over the increasing global crude oil prices and requesting phasing out production cuts to Opec.
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