Petrol, diesel prices rise for the 10th consecutive day
Fuel prices continued their record-breaking run for the 10th straight day today. Petrol prices were up by 16 paise to Rs 79.31 per litre in Delhi, while diesel rates saw a jump by 19 paise to Rs.71.34 per litre. Fuel prices vary from state to state due to local levies. Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT.
Since August 16, petrol prices have risen by over Rs 2 per litre, while diesel has recorded a hike of Rs 2.42 a litre during this period.
The surge in fuel prices is largely due to the rise in crude oil prices and high rate of excise duty in the country. Brent crude oil is currently priced over $78 per barrel. The recent slump in rupee also has lifted the import cost of crude oil, subsequently raising fuel prices.
Apart from petrol and diesel, prices for other hydrocarbons have also been increased in the last few days. Prices for compressed natural gas (CNG), non-subsidised LPG gas and piped natural gas (PNG) have all registered a sharp rise.
The sharp rise has hit the pockets of common man, with consumers are now urging the governments to curb this unabated price rise.
The record-breaking hikes have also sparked political fight between the government and the opposition. Criticising the Centre over the “relentless” rise in prices of petrol and diesel, former finance minister P Chidambaram said that government's excuse of higher state levies is misleading. “Centre blaming the States is a spurious argument. BJP forgets its boast that BJP is ruling 19 States. Centre and States must act together and bring petrol and diesel under GST,” he said.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan had said that the rise in fuel prices in the country was “temporary,” adding that a rise in global crude oil prices was responsible for the price surge in India.
Since August 16, petrol prices have risen by over Rs 2 per litre, while diesel has recorded a hike of Rs 2.42 a litre during this period.
The surge in fuel prices is largely due to the rise in crude oil prices and high rate of excise duty in the country. Brent crude oil is currently priced over $78 per barrel. The recent slump in rupee also has lifted the import cost of crude oil, subsequently raising fuel prices.
Apart from petrol and diesel, prices for other hydrocarbons have also been increased in the last few days. Prices for compressed natural gas (CNG), non-subsidised LPG gas and piped natural gas (PNG) have all registered a sharp rise.
The sharp rise has hit the pockets of common man, with consumers are now urging the governments to curb this unabated price rise.
The record-breaking hikes have also sparked political fight between the government and the opposition. Criticising the Centre over the “relentless” rise in prices of petrol and diesel, former finance minister P Chidambaram said that government's excuse of higher state levies is misleading. “Centre blaming the States is a spurious argument. BJP forgets its boast that BJP is ruling 19 States. Centre and States must act together and bring petrol and diesel under GST,” he said.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan had said that the rise in fuel prices in the country was “temporary,” adding that a rise in global crude oil prices was responsible for the price surge in India.
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