Petrol, diesel price hike: Guide for middle-class Indians on fuel prices

Petrol price hike
As the fuel price hike was announced on Tuesday, common people were greeted with the highest petrol and diesel prices since September 2013. On Tuesday, petrol and diesel prices in Delhi touched a high of Rs 76.87 and Rs 68.08 a litre, respectively, while in Mumbai, petrol reached Rs 84.7 a litre and diesel at Rs 72.48, the highest ever. If taxes are kept unchanged, the retail price of petrol in Mumbai could cross Rs 90 per litre in the near future if crude oil touches $85 per barrel. This is based on the government’s statement that the crude oil price increase could add $50 billion to India’s oil import bill in 2018-19.

The  analysed that the retail price of petrol in Delhi may reach Rs 85 a litre, while that for diesel reach Rs 73 a litre.

For the tight-budgeted Indian, the petrol and diesel price hike is a serious damper. As the mercury continues to soar, people may have contemplated on a road trip to a hill station, or a family vacation as many school children are on summer vacation. However, a cautious traveller can keep a few things in mind before embarking on a journey:

Check fuel prices online

Consumers can visit the Indian Oil website.

Once on the website, they can use the 'RO Locator' tool to locate the Indian Oil retail outlet nearest to them based on their location.

The website displays prices of various products sold.

Check petrol, diesel prices through app:

* Indian Oil's mobile app, called "Fuel@IOC - IndianOil", also enables customers to check current prices.

* This mobile application by Indian Oil is available on both Google Play and Apple Store, for Android and iPhone smartphone users respectively.

While the government says it is working on a long-term solution to address the volatility and frequent revisions in rates, here's a guide to petrol and diesel prices in pan India on Wednesday:

1. New Delhi: Petrol: 77.21; Diesel: 68.38
2. Mumbai: Petrol: 85.03;  Diesel: 72.80
3. Chennai: Petrol: 80.15; Diesel: 72.18
4: Kolkata: Petrol: 79.86, Diesel: 70.92
5: Lucknow: Petrol: 77.86; Diesel: 68.53
6: Chandigarh: Petrol: 74.26; Diesel: 66.40
7. Bengaluru: Petrol: 78.47; Diesel: 69.55
8. Shimla: Petrol: 77.37; Diesel: 68.01
9. Guwahati: Petrol: 79.38, Diesel: 71.38
10. Panjim: Petrol: 71.15; Diesel: 69.59
11. Srinagar: Petrol: 81.61; Diesel: 71.76
12. Thiruvananthapuram: Petrol: 81.36;  Diesel: 74.20
13. Bhopal: Petrol: 82.82; Diesel: 71.97
14. Jaipur: Petrol: 79.97; Diesel: 72.81
15. Dehradun: Petrol: 78.38; Diesel: 68.71

Former Finance Minister P Chidambaram came down heavily on the government on Wednesday morning, tweeting that it was possible to cut petrol and diesel rates by Rs 25 a litre, but the Centre would cheat the public and bring down prices by only Rs 1-2 per litre.

It is possible to cut upto Rs 25 per litre, but the government will not. They will cheat the people by cutting price by Rs 1 or 2 per litre of petrol

— P. Chidambaram (@PChidambaram_IN) May 23, 2018

Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer.

— P. Chidambaram (@PChidambaram_IN) May 23, 2018
"Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer. Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices. It also puts additional tax of Rs 10 on every litre of petrol," he added.

As reported earlier, the Prime Minister's Office will on Wednesday take a final call on whether to cut excise duty on petrol and diesel.

Meanwhile, BJP President Amit Shah said that the issue will be resolved within three to four days.

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