Fuel price touches fresh high; Petrol near Rs. 90 in Mumbai

Fuel price touches fresh high; Petrol near Rs. 90 in Mumbai

Fuel price touches fresh high; Petrol near Rs. 90 in Mumbai

Finance Minister Arun Jaitley remained evasive on the issue of cutting down excise duty to cushion the spiralling petrol and diesel prices, adding that worldwide oil prices are volatile and have not shown any linear movement.

Condemning the statement of the union petroleum minister Dharmendra Pradhan that the petroleum prices were increased due to hike petroleum prices in global market and increase in Value-Added Tax by state governments, Naidu said such statements were far from truth and were aimed only to mislead the people. And diesel? Rs 77.92 per litre.

According to one of the graphics, the petrol price on May 16, 2004, was Rs 33.71 while on May 16, 2009, it was Rs 40.62. A litre of petrol costs Rs 90.02 in Parbhani, which is located about 500 km away from Mumbai, due to higher local taxes and transportation cost.

The announced from the Andhra Pradesh government came on the day the oppositions, led by Congress called a nationwide shutdown in a move to protest against the several issues, including the rise in the petrol and diesel prices across India.

In New Delhi, petrol price reached Rs 80.73/litre; an increase of Rs 0.23/litre and diesel was at Rs 72.83/litre which is a Rs 0.22/litre hike.

AP now levies around Rs 4 a litre of value added tax on petrol and diesel, earning around Rs 2,240 crore a year through state taxes on fuel. Union Petroleum Minister Dharmendra Pradhan also attributed the hike in fuel prices mainly to rupee depreciation.

AIMTC's Gupta adds, "If they wish they can make our lives easier, now the small farmers are failing to cope with the price revisions every day, we are heavily reliant on this fuel, the changing prices not being put under a uniform ambit are hurting us the most, there has to be a rollback urgently". Rajasthan had also reduced the taxes on both, diesel and petrol. "If taxes are cut, prices will decline significantly".

Among the 29 Indian states and the union territory of Delhi, Kerala has the ninth highest sales tax and other state levies on petrol at 30.37 per cent; it is highest in Mumbai at 39.12 per cent (down from 48.98 per cent early this year).

In Maharashtra's Parbhani city, petrol cost Rs 90.05 a litre while diesel Rs 77.92 per litre, reported India Today. 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. The Centre now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel.

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