Published: Tue, September 11, 2018
Finance | By Jaime Brady

Fuel prices rise again, petrol nears Rs 90 in Mumbai

Fuel prices rise again, petrol nears Rs 90 in Mumbai

Amid nationwide strike against the spiralling fuel prices, petrol and diesel rates were hiked again on Monday in metro cities across India.

Rahul Gandhi, who led the Opposition protests from Rajghat, said: "Narendra Modi used to roam the country and say, the prices of fuel are rising". In Hyderabad, petrol costs Rs 85.75 and diesel Rs 79.37. The percentage increase was 20.5.

Similarly, it has also shared the increase in diesel prices and the percentage hike in 2004, 2009, 2014 and 2018 respectively.

The fuel prices continued its northward march and set fresh highs on Tuesday morning, with the price of Petrol in New Delhi is Rs. 80.87, in Kolkata for Rs. 83.75, in Mumbai for Rs. 88.26, and in Chennai for Rs. 84.07, according to the largest fuel retailer, Indian Oil Corporation (IOC). The government, he said, anticipates that global oil prices, which together with a drop in the value of rupee has been fuelling the fuel price rise to record levels, will moderate in coming days to take pressure off. Bharat Bandh evokes mixed response in Punjab, Haryana The nationwide call of Opposition-sponsored "Bharat Bandh" against rising fuel prices evoked a mixed response in Punjab, Haryana and Union Territory Chandigarh. Petrol prices on Tuesday touched a scorching Rs 90.11 in Maharashtra's Parbhani while diesel prices also increased from Rs 77.92 to Rs 78.06, Parbhani District Petrol Dealers Association (PDPDA) President Sanjay Deshmukh said.

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Meanwhile, Andhra Pradesh assembly passed a resolution to roll back petrol and diesel prices by Rs 2 per litre.

State-owned oil firms had in June a year ago discarded the policy of changing fuel rates on the first and 16th of every month, and resorted to daily price revision instead.

These fuel price figures were released by the BJP. The Centre now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. Same is the case with diesel price in Maharashtra, Tamil Nadu and Rajasthan, where the sales tax on diesel is higher than in Kerala.

Addressing the Legislative Assembly, the AP chief minister N Chandrababu Naidu accused the BJP government at the centre for not considering to reduce fuel prices despite earning large sums through various taxes. This led to its excise collections from petro goods more than doubling in last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

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