Petrol touches Rs 90.11 in Maharashtra's Parbhani

Petrol touches Rs 90.11 in Maharashtra's Parbhani

Petrol touches Rs 90.11 in Maharashtra's Parbhani

The hike of 48 paise a litre for petrol and 47 paise for diesel is the steepest increase since the daily price revision came into effect over 14 months ago.

Naidu, who has been mounting pressure on the centre to reduce the fuel prices for a while, said going by the indicators the petrol and diesel prices may soon hit Rs 100 a litre and the Rupee value may fall to Rs 100 against the USA dollar.

Leaders of various opposition parties led by Congress president Rahul Gandhi started the country-wide protest against rising fuel prices from Rajghat as part of the "Bharat Bandh" call given by the party. From thereon, there has been some fluctuation, with both hike and cut in prices up till today, when it touched Rs 90.05. Kerala has one of the highest fuel prices in the country.

He said the government's ability to give relief was only when its finances are strong.

This is a protest against the wrong policies of PM Narendra Modi which has also led to the rupee reaching record lows, said Leader of Opposition Ramesh Chennithala.

The tax ratio can be raised not by increasing rates but by bringing evaders and non-filers in tax net. In Hyderabad, petrol costs Rs 85.75 and diesel Rs 79.37. Unlike the previous governments, the BJP has also failed to cut excise duty whenever global oil prices shoot up.

Meanwhile, as opposition parties call for a nationwide bandh against NDA government over fuel price rise, Rajasthan's chief minister Vasundhara Raje on Sunday announced a 4 percent cut in the VAT (value added tax) imposed by the state on petrol and diesel. This led to its excise collections from petro goods more than doubling in the last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18. (Delhi - Rs 72.83; Mumbai - Rs 77.32; Chennai - Rs 76.98; Kolkata - Rs 75.68.) The petrol price on September 10 is Rs 84.06 a litre, which is higher than in all metros except Mumbai (where the price is Rs 88.12 on the day.). Government officials had on Monday ruled out a cut in excise duty on petrol, diesel citing revenue loss.

This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June a year ago.

Fuel rates have been on fire since mid-August, rising nearly every day due to a drop in rupee value and rise in crude oil rates.

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