ibusinesslines.com
ibusinesslines.com November 21, 2018


Fuel on fire: Petrol 1 paisa short of Rs 80 in Delhi

09 September 2018, 10:26 | Kelvin Horton

Petrol Prices Reached Rs 79.99 Per Litre In Delhi Govt Says No To Cutting Excise Duty

Petrol Excise Duty Govt

Petrol and diesel prices shot up once again today by around 50 paise to reach fresh record high levels. In Kolkata, petrol costs Rs 82.88 and diesel Rs 74.92.

In some cities in Maharashtra, petrol prices touched Rs 90 a litre - for instance, in Amravati, Buldhana, where they were selling for Rs 88 and Rs 77 a litre. The school bus operators and other federations of the transport industry are also demanding bringing petrol and diesel under the ambit of Goods and Services Tax (GST).

The Congress has made a decision to call a nationwide bandh on Monday, September 10 over the issue of rising fuel prices.

Since 1 August, petrol prices have risen by Rs 3.68 per litre.

Petrol price in Kolkata surged from Rs 82.22 per litre on Wednesday to Rs 82.41 per litre on Thursday.


The central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October previous year by Rs 2 a litre.

Petrol and diesel prices are revised daily by state-run oil firms at 6 am.

On Tuesday, former Finance Minister P Chidambaram had stated that the "Relentless rise in prices of petrol and diesel is not inevitable". In Delhi, petrol costs Rs 79.99 and diesel Rs 72.07.

India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices. Additionally, prices in Delhi are the cheapest among all metros mainly due to lower Value-Added Tax rates, and Mumbai has the highest Value-Added Tax on petrol at 39.12%.



Other News

Trending Now

Sanders bill aims to 'get billionaires off welfare'
The BEZOS - or Stop Bad Employers by Zeroing Out Subsidies - is an effort to force employers to increase their wages or cover the cost of government aid programs like SNAP.

Rapper Mac Miller dead at 26
Miller's real name was Malcolm McCormick and he was born in Pittsburgh, Pennsylvania on January 19, 1992. He was found unconscious and pronounced dead in his California home earlier today (September 7).

Syrian government and Russians target Idlib in heavy strikes
Dunford declined to comment on USA intelligence about the possible Syrian preparations of chemical agents. Friday's summit had focused on a looming military operation in Idlib.

Meghan Markle's wears blue Jason Wu to 100 Days To Peace concert
The Duchess of Sussex wore a blue sleeveless Jason Wu dress, Aquazzura heels , and a small navy Dior clutch. Prince Harry could not hide his affection towards wife Meghan Markle during a recent royal engagement.

Real Madrid not missing Ronaldo -Isco
We know you have to distinguish between the two Ronaldos somehow, but Ceballos has some things to learn about being a Madridista . For now, we don't miss him, but this is just starting.

Juan Martin Del Potro through to final as Rafael Nadal retires
Del Potro is no stranger to injury. "I know I'll have to play at my highest level to keep having chances of success". The 29 year-old from Tandil was awaiting the victor of the second match between Novak Djokovic and Kei Nishikori .

Netanyahu says Israel working ‘near and far’ against Iran
Russian Federation has been a key supporter of Assad and complained about militants in Idlib targeting its own facilities. Kremlin spokesman Dmitry Peskov on Tuesday reiterated Russia's stance and called Idlib "a hornets' nest of terrorists".