Feel like you're being robbed blind by high fuel prices? Petrol price has touched a record high of Rs 76.87 per litre and diesel climbed to its highest ever level of Rs 68.08. Petrol was the costliest in Mumbai where high local taxes led to a price of Rs 84.40 per litre. Diesel was also the costliest in Mumbai at Rs 72.48, according to news agency IANS.
Across the four metropolitan cities — Delhi, Mumbai, Kolkata and Chennai — prices rose around 30 paise on Tuesday. In Delhi and Mumbai, the fuel was sold at Rs 76.87 and Rs 84.70 per litre repectively, up from Rs Rs 76.57 and Rs 84.40 on Monday.
Similarly, in Kolkata, the price was at a near-five-year high of Rs 79.53, up 29 paise from Monday. In Chennai, the fuel cost rose by 32 paise from Monday's price of Rs 79.47 per litre.
Prices of transportation fuel have been rising on the back of the recent surge in global crude oil prices and high excise duty in the country. On Tuesday, Brent crude oil was priced over $80 per barrel.
Diesel prices, which have already reached unprecedented levels, set new records across the country. In Delhi, Kolkata, Mumbai and Chennai, diesel was sold at Rs 68.08, Rs 70.63, Rs 72.48 and Rs 71.87 per litre, respectively.
There have been demands from various quarters, including industry associations such as Ficci and Assocham, for a reduction in fuel excise duties and inclusion of automobile fuels under the purview of the Goods and Services Tax (GST).
Here are the top developments on petrol and diesel price hike:
- BJP president Amit Shah on Tuesday said the government is taking the issue of rising petroleum prices seriously and will soon announce measures to deal with the matter.
- The Congress on Tuesday attacked the Modi government over rising petrol and diesel prices and demanded they be brought under the ambit of the GST. It also demanded reduction in excise duties on petroleum products imposed by the Centre and the VAT by various state governments.
- Brent crude oil jumped 1.5 per cent to above $80 a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply.
- In Madhya Pradesh's Bhopal city, the petrol price touched Rs 82.47 per litre while diesel reached at Rs 71.66 per litre. "It won't take much time for petrol prices to reach Rs 100 at this speed. We have no other option but to buy fuel to commute. The government should reduce the prices, it's affecting our budget," said a Bhopal resident, reported ANI.
- Indian Oil Corporation Limited (IOCL) Chairman, Sanjiv Singh on Tuesday stressed on bringing petroleum products under GST in order to provide relief to common people from the ongoing spurt in fuel prices across the nation.
- With prices of petrol and diesel soaring high and the public continuously requesting the government to reduce the same, All India Petroleum Dealers Association president Ajay Bansal on Tuesday said they can only control the rising fuel price by reducing VAT of state and central taxes.
With Agency inputs