Published: Mon, September 10, 2018
Markets | By Noel Gibbs

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

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

The increase in fuel prices again on Monday comes amid a call for nation-wide bandh by opposition parties today.

As per the Indian Oil Corporation, a price hike of 39 paise and 44 paise per litre was implemented on petrol and diesel, respectively, in the national capital.

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In Mumbai, Petrol & Diesel prices are Rs.87.77 per litre & Rs.76.98 per litre, respectively.

Similarly, petrol is being sold for ₹83.54 per litre in Chennai and the diesel retail price is ₹76.64 per litre. 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. Two of them, rising price of crude oil and depreciation in the value of the rupee against the United States dollar, are beyond the control of government. The opposition has demanded the central government to cut excise duty on fuel prices. On Tuesday, former Finance Minister P Chidambaram had tweeted: "Relentless rise in prices of petrol and diesel is not inevitable". That it is unpopular is evident by the Rajasthan government's decision, ahead of an assembly election, to reduce local taxes on petrol and diesel.

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"Common man is suffering a lot due to the increasing prices of fuel". The Centre now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel.

The VAT on petrol has been reduced from 30 to 26 per cent and from 22 to 18 per cent on diesel, Rajasthan Chief Minister Raje announced at a public gathering in Rawatsar in Hanumangarh district on Sunday.

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Mumbai has the highest Value-Added Tax of 39.12 per cent on petrol, while Telangana levies the highest Value-Added Tax of 26 per cent on diesel. Taking a dig at the Narendra Modi-led BJP government at the Centre, the NDA constituent put up posters on Saturday which quoted the prices of petrol, diesel and gas in 2015 as against the prices in 2018.

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