Fuel rates hike again; petrol surges by 12 paise in Delhi | Check revised rates here
Business | September 09, 2018 8:29 ISTAs per revised rates, petrol and diesel prices in Delhi stood at Rs 80.50 per litre and Rs 72.61 per litre respectively.
As per revised rates, petrol and diesel prices in Delhi stood at Rs 80.50 per litre and Rs 72.61 per litre respectively.
Petrol and diesel prices in Delhi are Rs 80.38 per litre and Rs 72.51 per litre respectively
Fuel rates skyrocket; petrol surges past Rs 80/litre mark in Delhi, diesel at Rs 72.5/litre
As per the revised rates, petrol and diesel prices in Delhi are Rs 80.38 per litre and Rs 72.51 per litre respectively.
Petrol reached Rs 79.99 per litre and Rs 87.39 per litre in Delhi and Mumbai respectively.
Petrol reached Rs 79.99 per litre and Rs 87.39 per litre in Delhi and Mumbai respectively.
"Relentless rise in prices of petrol and diesel is not inevitable. Because the price is built up by excessive taxes on petrol and diesel. If taxes are cut, prices will decline significantly," Chidambaram said on Twitter.
Since the last week, prices of petrol and diesel have been on a continuous spike.
A litre of diesel now costs Rs 70.21 in Delhi, where the rates are the cheapest in all metros and most state capitals due to lower sales tax or VAT.
In Delhi, petrol is selling at a price of Rs. 78.52 per litre, implying a hike of 22 paise.
Diesel is mostly used in transportation of agricultural products and an increase in its price may result in higher inflation, as per an IANS report.
The Centre currently levies a total of Rs. 19.48 per litre of excise duty on petrol and Rs. 15.33 per litre on diesel.
The Union finance ministry, he said, has not mooted any proposal to bring petrol and diesel or even natural gas under GST but took up the issue at the last GST Council meeting on August 4 based on media reports.
The petrol and diesel prices were hiked on Saturday for the third consecutive day by the oil marketing companies IOC, HPCL and BPCL.
However, the price of crude oil increased in the international market on Tuesday due to Libyan oil exports.
Bringing petrol and diesel under GST will not be an easy call for the central government as it will have to let go of about Rs 20,000 crore of input tax credit that it currently collects by keeping petrol, diesel, natural gas, jet fuel and crude oil out of the GST regime.
Javadekar pointed out that the solution lies with state governments also as they too levy their taxes.
This is the second reduction in rates coming after a 16-day relentless price hike that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls.
In IndiaTV's exclusive report, it was revealed that the smugglers purchase fuel from Nepal at Rs 65 and sell it at Rs 80 in Bihar, Rs 5 cheaper than the market rate on the Indian side of the border.
Petrol price cut by 7 paise, diesel by 5 paise per litre
Top News
Latest News