Petrol, Diesel, CNG, PNG Prices On Fire. Ten Things To Know


Petrol was sold for Rs 73.83 a litre in Delhi, and Rs 81.69 in Mumbai at Indian Oil pumps. The CPI-M's Sitaram Yechury said, "This is clearly not an April Fool's joke".

Some quarters of the public said the government must come up with a plan such as carpooling policy or decreasing the excise duty on fuel, so that they do not suffer due to hike in petrol and diesel prices in the global market. "Being taxed for Modi's tamashas and advertising".

The last time when the petrol prices were higher was under UPA rule in September 2013 when it was Rs 76.06 per litre in the city.

The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting global oil prices.

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Robust demand: Despite surging fuel prices, demand for fuel in India stays steady. For a litre of diesel, consumers in Kolkata will have to shell out Rs 67.38, while consumers will have to pay Rs 68.89 in Mumbai, Rs 68.24 in Chennai, Rs 65.78 in Bengaluru, and Rs 70.28 in Hyderabad.

The soar in fuel prices continue as petrol rates in Delhi reached a four-year high of Rs 73.83 on Monday. Compared to other district, the fuel prices in Thiruvananthapuram district is more. However, even when Brent crude prices were at a record low, Indian motorists never got the full benefit as a result of high excise tax rates levied by state governments. Till October 3 - when growing public anger against high taxes forced the government to cut excise duty on fuels by Rs 2 a litre - petrol price had jumped by Rs 7.8 per litre and diesel by Rs 5.7 to hit an all-time high at that point in Delhi. It cut tax Rs 2 a litre last October to defuse inflationary pressure.

Petrol prices are now hovering over four-year peak in the country and diesel is at an all-time high following a rapid rise in worldwide rates led by strong global demand.