Petrol price crosses Rs 90 per litre in Maharashtra
11 September, 2018, 12:26 | Author: Sally Reid
Amidst protests and national bandh by the opposition parties on Monday, the Telugu Desam Party government in Andhra Pradesh, an ally of BJP-led NDA government till March, has announced slashing the petrol and diesel prices by Rs 2 a litre.
On Monday, the ruling Bharatiya Janata Party termed the hike in petroleum products as a "momentary difficulty" owing to an worldwide crisis after the Opposition parties in the country observed a Bharat Bandh, to protest the skyrocketing fuel prices. In Vijayawada, petrol is selling at Rs 84.85 per litre and diesel is priced at Rs 78.16 per litre on Tuesday. The percentage increase was 20.5.
Fuel prices continue to soar and on Saturday, petrol price for the first time crossed the Rs 85 mark in the city.
Similarly, it has also shared the increase in diesel prices and the percentage hike in 2004, 2009, 2014 and 2018 respectively.
The petrol price in Delhi has now shot up to Rs 80.73 per litre while diesel, too, touched a high historic high of Rs 72.83 a litre as oil prices in the worldwide market continue to rise and the rupee weakens.
Meanwhile, the rupee dropped by around 94 paise to reach a record low of 72.67 to the dollar due to a strengthening dollar and a widened current account deficit.
AP now levies around Rs 4 a litre of value added tax on petrol and diesel, earning around Rs 2,240 crore a year through state taxes on fuel.
However, many feel that by attributing the price hike only on global factors must be taken with a pinch of salt, the BJP government is trying to shrug away its own responsibility of bringing fuel prices under the ambit of the Goods and the Services Tax (GST).
AIMTC's Gupta adds, "If they wish they can make our lives easier, now the small farmers are failing to cope with the price revisions every day, we are heavily reliant on this fuel, the changing prices not being put under a uniform ambit are hurting us the most, there has to be a rollback urgently". Union Petroleum Minister Dharmendra Pradhan also attributed the hike in fuel prices mainly to rupee depreciation.
Maharashtra is among those states where petrol, diesel prices are the highest in India. It is true, what he has done in four years had not happened in 70 years. The tax imposed by the Centre on petrol (including customs and excise duties, and other cesses) is 52.75 per cent, and on diesel is 38.53 per cent.
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