Petrol, diesel prices start rising again

Finance minister Arun Jaitley announced a cut of Rs 2.50 in the price of petrol

Finance minister Arun Jaitley announced a cut of Rs 2.50 in the price of petrol

Petrol and Diesel prices in Delhi are Rs 81.82 per litre (increase by Rs 0.14) and Rs 73.53 (increase by Rs 0.29).

After the latest fuel price hike, petrol and diesel prices in Mumbai are Rs 87.50 and Rs 77.37 respectively.

As the Modi government has given the big relief on Thursday by announcing to cut down the fuel rate of Rs 2.50, therefore, 14 states have also supported the decision of Centre and have even cut down the prices. "Kindly bring petrol and diesel under the purview of GST", he tweeted in Hindi.

However, the Federation of All Maharashtra Petrol Dealers Association (FAMPEDA), Chairman, Uday Lodh, while welcoming the reductions, pointed out that the daily price increase by the Oil Marketing Companies will continue as per the global crude oil price fluctuations.

Earlier in the day, Fadnavis had told reporters that the government will reduce local taxes on diesel by Rs 1.50 so that the consumers get relief of Rs 4 per litre. However, in Mumbai, the diesel have gone up by 7 paise only. Central excise duty on petrol and diesel was Rs 9.23 and 3.46 per litre respectively before 2014.

Several states had announced reduction in fuel prices by cutting sales tax/VAT.

In Kolkata, petrol prices rose to Rs 83.52, whereas diesel prices were at Rs 75.09.

Rising fuel prices have become a political controversy in India, with attention specifically focused on the high taxes that the Centre charges.

Mr. Gandhi has been been attacking the government over high petrol and diesel prices and the falling value of rupee.

This rapid tax escalation more than doubled its excise collections from petro goods in the last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

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