Petrol, diesel prices scale new highs on rupee woes

Petrol price hits record high of Rs 80.38 per litre in Delhi; diesel at Rs 72.51 per litre

Petrol in Delhi Crosses Rs 80 Mark, Oppn Unites for Bharat Bandh

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment. Current price levels, where petrol has breached the Rs 80 per litre mark in many states, are due to a combination of factors. Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now. In cities like Kolkata, Mumbai and Chennai, a per litre petrol is available at Rs 83.27, Rs 87.77 and Rs 83.54 respectively. The central government now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel.

Oil prices in the country are tied to the cost of crude oil in worldwide market. The continuous rise in diesel prices has complicated matters for truckers.

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This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June past year. Because the price is built up by excessive taxes on petrol and diesel.

According to reports, the Centre imposes a total of Rs 15.33 per litre of the excise duty on diesel and Rs 19.48 on petrol. Delhi charges a Value-Added Tax of 27% on petrol and 17.24% on diesel while Mumbai has a maximum Value-Added Tax of % on petrol.

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Nearly half of the fuel prices is made up of taxes.

If the reports coming from the power corridors of Amaravati, Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu is learnt to have chose to give relief to the citizens by reducing the Value Added Tax (VAT) on diesel and petrol in the State.

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However, the central government is yet to announce any cut on the excise duty levied on petrol and diesel.

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