NEW DELHI: Petrol prices in India have gone up by merely 5% as against over 50% in some of the developed countries, said the petroleum Minister Hardeep Singh Puri on Tuesday in Lok Sabha.
The minister also mentioned that the ongoing war between Russia and Ukraine has affected not only India but all over the world. “The increase in prices of petrol was very low in India as compared to developed and other developing nations in the aftermath of the war. Petrol prices have gone up by over 50% in countries like the US, the UK, Canada, Germany, and Sri Lanka. In the case of India the increase worked out to be only 5% ,” said Puri.
The gasoline (petrol) price in the US has increased by 51%, Canada 52%, Germany 55%, UK 55%, France 50%, Spain 58% between April 2021 and March 22. The minister also highlighted that the price of natural gas has shot up several times in the international market after the outbreak of the war. Meanwhile, petrol and diesel prices again hiked by 80 paise per litre each on Tuesday in the country. This is the 13th hike in transport fuel in the past 15 days by oil marketing companies. With this hike, the net increase on petrol and diesel prices is Rs 9.20 per litre.
As per the price notification by fuel retailers, the price of petrol and diesel in Delhi is at Rs 104.61 per litre and Rs 95.87 per litre respectively. The price of transport fuel is revised by the OMCs on a daily basis, in line with International crude price. However, petrol and diesel prices were kept unchanged since November 4 last year when the government cut excise duty on petrol by Rs 5 per litre and by Rs 10 on diesel.