Why do diesel prices vary so much?

Although U.S. diesel fuel demand is fairly consistent and generally reflects the overall health of the economy, diesel fuel prices often fluctuate during the year. During the fall and winter, the demand for heating oil affects diesel fuel prices.

Why diesel prices are so high?

The rising crude oil prices, and the higher taxation impact, have contributed to the prices of petrol and diesel regularly setting new record highs across the country in 2021.

Is diesel more refined than petrol?

Conventional diesel and petrol are both produced from mineral oil, but the precise refining methods vary. Diesel is in principle easier to refine than gasoline, however it contains more pollutants that must be extracted before it can reach the same levels of emissions as petrol.

Is petrol more powerful than diesel?

Both produce same power, but diesel produces more torque at the expense of speed whereas petrol engine it is vice versa. Diesel swift is more powerful than petrol. Petrol is fast but diesel is power full as all heavy vehicles are of diesel and normally cars and motor bikes are in petrol.

Why are diesel prices so high in India?

Elevated tax levels are also playing a major role in the current record high prices in India. The rising crude oil prices, and the higher taxation impact, have contributed to the prices of petrol and diesel regularly setting new record highs across the country in 2021.

What has now made diesel prices higher in Delhi?

What has now made diesel prices higher in the capital is the Delhi government’s decision early May to increase Value Added Tax on diesel from 16.75\% to 30\% and on petrol from 27\% to 30\%. This increased the retail price of Diesel and petrol in Delhi by Rs 7.10 and Rs 1.67 a litre, respectively.

Why has the price of petrol increased in India?

Retail petrol rates have risen by Rs 19.95 per litre since mid-March 2020. Thanks to this hike, excise duty on petrol went up to Rs 32.98 per litre from Rs 19.98 per litre and on diesel to Rs 31.83 per litre from Rs 15.83. Along with the Union government, states also hiked taxes to make up for the shortfall in revenues due to the lockdown.

Why are petrol and diesel prices at record highs?

Increasing central and state taxes on petrol and diesel are the key reason for the prices of petrol and diesel being at record highs, even though the price of crude oil is only 3.5 per cent higher than at the beginning of 2020, before the Covid-19 pandemic led to a sharp fall in the demand for crude oil.

What is the real price of petrol in Delhi on February 16?

According to Indian Oil, here’s the break up for Delhi on February 16 for one litre of petrol: Out of the price of Rs 89.29, Rs 53.51 is excise and VAT alone — or 59.92\% of the total price. Excise and taxes on diesel come in at about 54\%. International crude benchmark rates plunged to decade lows in April 2020.