Gujarat Exclusive > Fuel prices in India hit new peak: Petrol costs over Rs 102 in Mumbai

Fuel prices in India hit new peak: Petrol costs over Rs 102 in Mumbai

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  • On the other hand, brent crude oil slipped to $72.28 per barrel on Friday morning

Mumbai: Fuel prices in India rose once again on Friday. On Friday, the price of petrol in Mumbai crossed Rs 102. It now stands at Rs 102.04 per litre after an increase of 28 paise. The fuel is thus the costliest in Mumbai. Diesel was priced at Rs 94.15 per litre in the metro. On the other hand, the rate of brent crude oil slipped to $72.28 a barrel.

In Chennai, petrol and diesel cost Rs 97.19 and Rs 91.42 respectively. In Delhi, petrol now costs Rs 95.85 per litre (increase of 29 paise) and diesel Rs 86.76. Among the four metros, this is the cheapest rate of diesel.

In Kolkata, petrol is priced at Rs 95.80 and diesel at Rs 89.60.

‘Nearly 4-time rise in excise duty since 2013-14’

Fuel has currently become the highest taxed commodity in the country. The per-barrel price of brent crude hovered around $71 in 2021, down from $110 in 2014. Against this, the excise duty on petrol went from less than Rs 10 in April 2014 to Rs 32.90 currently.

The price of petrol in Ahmedabad is now Rs 92.80, an increase of 28 paise. Accusing the BJP government of cheating the public, Gujarat Pradesh Congress Committee (GPCC) spokesperson Manish Doshi said, “In past seven years the government had raised excise duty on petrol from Rs 9.20 per litre in 2014 to Rs 32.98, an increse of Rs 23.78 or 258 per cent. Similarly, the excise duty on diesel went up from Rs 3.46 in May 2014 to Rs 31.83 now.”

That added, “That is an increase of Rs 28.37 or 820 per cent. Ironically, the prices of crude oil in the global market have gone down from $110 per barrel to $60.” (On Friday morning, brent crude oil was priced at $72.28). Doshi claimed that the Gujarat government has been collecting 25 per cent VAT + cess because of which inflation has reached a peak.

 

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