Petrol at record high: Bring fuel under GST, say commuters, IOCL, Congress

Feel like you're being robbed blind by high fuel prices? Petrol price has touched a record high of Rs 76.87 per litre and diesel climbed to its highest ever level of Rs 68.08. Petrol was the costliest in Mumbai where high local taxes led to a price of Rs 84.40 per litre. Diesel was also the costliest in Mumbai at Rs 72.48, according to news agency IANS.

Across the four metropolitan cities — Delhi, Mumbai, Kolkata and Chennai — prices rose around 30 paise on Tuesday. In Delhi and Mumbai, the fuel was sold at Rs 76.87 and Rs 84.70 per litre repectively, up from Rs Rs 76.57 and Rs 84.40 on Monday.

Similarly, in Kolkata, the price was at a near-five-year high of Rs 79.53, up 29 paise from Monday. In Chennai, the fuel cost rose by 32 paise from Monday's price of Rs 79.47 per litre.

Prices of transportation fuel have been rising on the back of the recent surge in global crude oil prices and high excise duty in the country. On Tuesday, Brent crude oil was priced over $80 per barrel.

Diesel prices, which have already reached unprecedented levels, set new records across the country. In Delhi, Kolkata, Mumbai and Chennai, diesel was sold at Rs 68.08, Rs 70.63, Rs 72.48 and Rs 71.87 per litre, respectively.

There have been demands from various quarters, including industry associations such as Ficci and Assocham, for a reduction in fuel excise duties and inclusion of automobile fuels under the purview of the Goods and Services Tax (GST).

Here are the top developments on petrol and diesel price hike:

  • In Madhya Pradesh's Bhopal city, the petrol price touched Rs 82.47 per litre while diesel reached at Rs 71.66 per litre. "It won't take much time for petrol prices to reach Rs 100 at this speed. We have no other option but to buy fuel to commute. The government should reduce the prices, it's affecting our budget," said a Bhopal resident, reported ANI.
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With Agency inputs