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Andhra CM announces Rs 2 cut in petrol, diesel price from Tuesday

11 September, 2018, 12:23 | Author: Lawrence Cooper
  • Increasing Continuously Fuel prices reach new high

President Sanjay Deshmukh told IANS that diesel prices also increased from Rs 77.92 to Rs 78.06 on Tuesday. While a cut in excise duty that the central government levies will impact fiscal deficit, states like Bihar, Kerala, and Punjab are not in a position to cut sales tax (or VAT), the official, who wished not to be identified, said.

In the 13 days between August 29 and September 10, petrol and diesel prices have risen daily; in the case of petrol from Rs 81.45 to 84.06, and in the case of diesel from Rs 74.74 to Rs 77.98. "Under Modi, the country has reached a low", Leader of Opposition Ramesh Chennithala said while inaugurating his party's protest in Kochi.

TDP had opposed the demand of the opposition parties to bring the fuel products under the ambit of GST, claiming that fuel products were among the major contributors of tax revenues for the states.

Retail prices of petrol and diesel breached record levels again on Tuesday with Oil Marketing Companies (OMCs) raising rates by 14 paise per litre each for the two automobile fuels in the national capital.

In Maharashtra's Parbhani city, petrol cost Rs 90.05 a litre while diesel Rs 77.92 per litre, reported India Today. Because the price is built up by excessive taxes on petrol and diesel.

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The 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.

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment. Union Petroleum Minister Dharmendra Pradhan also attributed the hike in fuel prices mainly to rupee depreciation.

Former Prime Minister Manmohan Singh said the Modi government has completely failed in keeping its promises to the people of India.

However, Maharashtra Chief Minister Devendra Fadnavis on Sunday said that the state government was working on various proposals to give relief to the people from rising fuel prices.

Law minister Ravi Shankar Prasad on Monday blamed Organization of Petroleum Exporting Countries (OPEC) for the surge in global prices of crude and said that the solution for the fuel price hike in not in government hands.

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