Petrol, Diesel prices increased again; 18 changes in prices in past one-month

The prices for petrol and diesel were released for 4th June, for the past 2 days the prices remained unchanged but as of today, the Indian Oil Corporation Limited (IOCL) website showed that the price of petrol was increased by 27 paise per litre and diesel by 28 paise per litre.

In several cities in Madhya Pradesh, Rajasthan, and Maharashtra, the price of petrol has even crossed the ₹100-mark. This change prince from state to state is due to the value-added tax amount for each state. With petrol prices reaching ₹100 per litre and diesel also nearing that level, a vociferation for a cut in taxes has escalated. It is expected that the second wave of the pandemic its imminent impact on the growth suggests that the government may again be hard-pressed for income.

Over the past year, there have been 43 hikes in petrol which is a staggering number when compared to only 4 cuts in the price. Overall, the retail price of petrol has increased by ₹10.78 per liter during the year and diesel prices increased by ₹11.51 per liter.

During the months of January and February, the price of petrol was increased 10 times in January and 16 times in February. The constant increase in pricing took a pause during March and April momentarily after election dates were released in West Bengal, Tamil Nadu, Assam, Kerala, and Puducherry.

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