Petrol and diesel prices on Wednesday touched a new high as rates were again hiked for the second day in a row. Petrol price was hiked by 30 paise per liter and diesel by 25 paise a liter on Wednesday. Fuel rates had gone up by 30 paise per liter each on Tuesday. So far this year, prices have risen by Rs3.89 per liter in the case of petrol and by Rs3.86 on diesel.
The increase took petrol price to an all-time high of Rs87.60 a liter in Delhi and to Rs94.12 in Mumbai. Diesel rates rose to Rs77.73 per liter in the national capital and an all-time high of Rs84.63 in Mumbai.
The price of the fuel varies in different states depending on VAT and freight charged there. Oil Minister Dharmendra Pradhan told the Rajya Sabha that the government is not considering a reduction in excise duty to bring down the rates.
Earlier international crude oil prices crossed $61 per barrel for the first time in over a year and this resulted in further price hikes in the country.
Central and state taxes account for 61% of the retail selling price of petrol and 56% of diesel.
Nepal-Lanka jibe on petrol prices
“Petrol is cheaper in Mother Sita’s land Nepal and Ravana’s land Lanka. Then will the government reduce petrol-diesel prices in the land of Ram,” Samajwadi Party MP Vishambhar Prasad Nishad questioned the petroleum minister in the Rajya Sabha.
He was referring to a social media meme comparing fuel prices of India and its neighbours Nepal and Srilanka with references to the epic Ramayana.
Union Minister for Petroleum Dharmendra Pradhan said the comparison was unfair as fewer people compared to those in India used the fuel in these countries.
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