Business

Diesel Prices Hit All Time High, Petrol Costliest Since Manmohan Era

SHAHNAWAZ | 0
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| April 1 , 2018 , 18:30 IST

Petrol and Diesel prices soared on Sunday morning with Petrol price reaching its five-year high of Rs 73.73 per litre in the national capital and diesel price reaching its all-time high at Rs 64.58 per litre.

These prices were updated by the oil companies like Indian Oil Corporation on their website.

As per Indian Oil website, this is the highest petrol price since 14 September 2013 when prices had touched Rs 76.06 per litre. The diesel price, on the other hand, is at its highest ever level.

The Petroleum and Natural gas ministry had recommended a reduction in excise duty on petrol and diesel early this year to keep in check the rising prices.

Finance Minister Union Jaitley announced lowering the basic excise duty on petrol and diesel by Rs 2 per litre each to Rs 4.48 and Rs 6.33 a litre, respectively. He also abolished Rs 6 per litre additional duty of excise on both the transport fuel.

However, Jaitley also imposed a new Rs 8 per litre ‘Levy of Road and Infrastructure Cess’ on both petrol and diesel. Hence there was absolutely no relief in the petrol and diesel prices despite lowering the excise duty.

Here are the petrol and diesel prices in major cities:

Petrol

Delhi: Rs 73.73

Mumbai: Rs 81.59

Chennai: Rs 76.48

Kolkata: Rs 76.44

Diesel

Delhi: Rs 64.58

Mumbai: Rs 68.77

Chennai: Rs 68.12

Kolkata: Rs 67.27

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ajit

Modi govt will face an uphill task in winning 2019 LOK SABHA elections. The people will teach a lesson to BJP by defeating in future elections as happened in recent by-elections held in different states. So Modi govt must lower ED and VAT by bringing under GST with power tariff. Otherwise, the public will teach a lesson in 2019 Lok Sabha elections by ousting BJP from power.

ajit

Modi govt will face an uphill task in winning 2019 LOK SABHA elections. The people will teach a lesson to BJP by defeating in future elections as happened in recent by-elections held in different states. So Modi govt must lower ED and VAT by bringing under GST with power tariff. Otherwise, the public will teach a lesson in 2019 Lok Sabha elections by ousting BJP from power.