Petrol Now Costs 30% More Than Jet Fuel! Crosses Rs 100/Litre Mark In Almost Every State Capital
The prices of petrol and diesel have now reached a record high after the price hike on Sunday by 35 paise a litre.
In fact, the prices of fuel cost a third more than the rate of the ATF that is sold to airlines.
Fuel Costs 30% More Than ATF Sold To Airlines
The price of petrol in Delhi has now reached a record high of Rs 105.84 a litre and Rs 111.77 per litre in Mumbai. Whereas, in Mumbai, the price of diesel is Rs 102.52 a litre in Mumbai and Rs 94.57 in Delhi.
The latest hike has now priced petrol at Rs. 100 litre or more in all state capitals and diesel has breached the same mark in over a dozen states including Bengaluru, Daman, and Silvassa. They have also touched the 100 mark in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chattisgarh, Bihar, Kerala, Karnataka and Ladakh.
As per reports, petrol used in bikes and cars now costs 33 per cent more than that of the aviation turbine fuel (ATF) sold to airlines. ATF in Delhi costs Rs 79,020.16 per kilolitre or Rs 79 per litre.
Petrol, Diesel Costliest In Ganganagar Rajasthan
Also, fuel is the costliest in the border town of Ganganagar in Rajasthan, petrol is for Rs 117.86 a litre and diesel for Rs 105.95.
We recently reported that fuel prices did not go down since global crude oil rates saw a marginal hike. Benchmark Brent crude oil remains below $70 per barrel. Prices could, in fact, increase soon since major oil suppliers will likely not increase supply as they fear weaker global demand.
This is unwelcome news for India since domestic prices are at an all time high and will not change anytime soon if global crude oil prices remain at current levels.
Given that the government also does not intend to cut excise duty levied on petrol and diesel, domestic fuel prices will not go down anytime soon.
There had been a three-week long hiatus in the rate revision, and this is the 16th increase in petrol price and the 19th time increase in the diesel rates.