Bharat Bandh: Petrol, diesel prices touch new high; check September 10 rates here

10 September 2018, 05:48 PM
Amid Bharat Bandh call, petrol-diesel prices touch new high (File Photo)
Amid Bharat Bandh call, petrol-diesel prices touch new high (File Photo)

Amid nationwide strike against the spiralling fuel prices, petrol and diesel rates on Monday - September 10 - shot up again in metro cities across India. Petrol price rose to Rs 80.73 per litre and diesel at Rs 72.83 per litre in Delhi, up by 0.23 paise per litre and 0.22 paise per litre respectively.

Mumbaikars seem to be the worst hit by the relentless surge in fuel prices as Monday petrol price was being sold at Rs 88.12 per litre and diesel price at Rs 77.31 per litre in the financial capital of India. The petrol price surged by 0.23 paise from 87.89 per litre while the hike in diesel price was also 0.23 paise from Rs 77.09 per litre, according to the Indian Oil Corporation (IOC).

The Oil Marketing Companies (OMCs) made the revised prices effective from 6 am on September 10, 2018. Fuel prices have been surging since August 16, up almost every day owing to a drop in rupee value and rise in crude oil rates.

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The fuel is lowest in Delhi among all metros and most state capitals in comparison to other cities due to lower sales tax or VAT. While Mumbai and Telangana levy the highest VAT (Value Added Tax) of 39.12 per cent and 26 per cent on petrol and diesel respectively, Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel.

Meanwhile, Opposition parties, under the leadership of Congress on Monday gave a shutdown call across India to protest against the record-breaking fuel prices, reportedly due to high taxes. The Opposition has been demanding the Narendra Modi government to bring petrol and diesel under the GST - a move that can reduce the fuel prices by Rs 15-18 per litre.

On being asked about rising fuel prices across India, Petroleum and Natural Gas Minister Dharmendra Pradhan earlier said, "It has now become essential to bring petrol and diesel under the purview of GST".

"As these two items are out of the GST, the nation has to bear a loss of about Rs 15,000 crore. If petrol and diesel are brought under the GST, it will be better for all including consumers," Pradhan added.

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However, Finance Minister Arun Jaitley has remained tight-lipped on reducing excise duty to cushion spiralling fuel prices and is yet to comment on the matter so far. Almost half of the retail selling price of the two fuel is made up of central and state taxes.

First Published: Monday, September 10, 2018 07:04 AM
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