Fuel price: Dip in petrol, diesel price weeks after daily revision rates
News | May 30, 2018 8:01 ISTFuel price: Dip in petrol, diesel price weeks after daily revision rates
Fuel price: Dip in petrol, diesel price weeks after daily revision rates
The Indian Oil Corporation Limited (IOCL) later clarified that its website carried out wrong fuel prices due to some technical fault.
While Petrol touched Rs 78.43 per litre in Delhi, it was crossed Rs 86-mark to sell at Rs 86.24 per litre in Mumbai. Diesel in Delhi stood at Rs 69.31 per litre and Rs 73.79 per litre in Mumbai.
The Narendra Modi Government, which will be celebrating its fourth anniversary on Saturday, May 26, has come under severe criticism from the Oppostion over the skyrocketing fuel prices.
On Thursday, the petrol prices were Rs 80.12 per litre in Kolkata, Rs 85.29 per litre in Mumbai and Rs 80.42 per litre in Chennai, while it went up to Rs 77.47 in Delhi.
In Delhi, petrol was being sold at Rs 77.47 per litre and diesel at 68.53 per litre. The price of petrol breached the Rs 85-mark in Mumbai to sell at Rs 85.29 per litre.
In Mumbai, petrol touched an all time time of Rs 84.99 per litre, while diesel was being sold at Rs 77. 76 per litre. Both the major petroleum products witnessed a hike of 29 paise per litre and 28 paise per paise per litre respectively.
Fuel price hike burns public's pocket, govt likely to take steps over petrol, diesel price hike
In the national capital Delhi, the price of petrol was at Rs 76.87 per litre, while the cost of diesel went up to Rs 68.08 per litre.
Seven Days of continuous hikes: Petrol crosses Rs Rs 76.24 per litre in Delhi
Wholesale price-indexed (WPI) inflation in India during April rose to four-month high at 3.18 per cent on increasing prices of petrol and diesel as well as fruits and vegetables.
Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
In his Budget speech, Jaitley said this year, the focus is on strengthening agriculture sector and besides 'ease of doing business', the government is also focusing on 'ease of living' now.
The daily revision allows any rise in international oil rates to be reflected in domestic prices with immediate effect rather than having a waiting period of 15 days as earlier.
The UPA government had not included petroleum products to be part of GST "because the UPA knew it would be a deal breaker with the states," Jaitley said in response to a question by P Chidambaram.
Since 40% of the state and central revenues come from petroleum products, they will have the liberty to levy taxes over and above the GST rate, Sushil Modi said.
India today pressed oil cartel OPEC to adopt "responsible pricing" for oil and consider the world's third-biggest oil consumer as its preferred sales destination
Petrol price were today cut by Rs 2.5 per litre and diesel by Rs 2.25 a litre, a day after the government reduced excise duty on auto fuels.
The Centre has asked state governments to reduce VAT in order to further ease the burden on consumers.
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