Petrol breaches Rs 80 per litre mark in Delhi

Petrol breaches Rs 80 per litre mark in Delhi

The prices of petrol and diesel touched a new high with Mumbai paying the maximum among the four metros. In cities like Kolkata, Mumbai and Chennai, a per litre petrol is available at Rs 83.27, Rs 87.77 and Rs 83.54 respectively. 61 per litre, following an increase of 12 paise and 10 paise, respectively.

On Tuesday, former Finance Minister P Chidambaram had stated that the "Relentless rise in prices of petrol and diesel is not inevitable".

The prices of both petrol and diesel, have been at their record high levels for around a week now.

According to oil companies, petrol at refinery gate costs around Rs 40.50 a litre and diesel Rs 43.

Mumbai: As the prices of petrol and diesel are on a constant rise, Shiv Sena protested against the fuel price hike in Mumbai.

7 injured in Paris stabbing attack; suspect taken into custody
And on June 17, two people were hurt in another southern town when a woman attacked them in a supermarket with a boxcutter knife. There have been several knife attacks in France over the past few months, but few have resulted in terrorist investigations.

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72. The spike in prices has renewed calls for cut in excise duty but Finance Minister Arun Jaitley has remained non-committal, saying worldwide oil prices are volatile and have not shown any linear movement.

Since oil prices have started rising, following USA sanctions on Iraq and the slide of the rupee against the dollar, there have been calls to reduce tax. Because the price is built up by excessive taxes on petrol and diesel.

The VAT on petrol has been reduced from 30 to 26 per cent and from 22 to 18 per cent on diesel, Rajasthan Chief Minister Raje announced at a public gathering in Rawatsar in Hanumangarh district on Sunday. A reduction in retail prices can happen only if excise duty is reduced - in which case the Centre and state governments bear the loss, or the oil firms bear it directly.

"We have made a decision to reduce Value-Added Tax on diesel and petrol by 4 per cent, which will provide much-needed relief to the people of the state, be it farmers or women or others", Raje told reporters in Rawatsar after making the announcement.

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