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Petrol prices dip by Rs 2 in over two weeks

  •   Tue, Jun 19 2018 11:56:14 AM

New Delhi, Jun 19 (India Today): In a fortnight, the petrol prices have dipped by Rs 2.16 per litre. On Tuesday, petrol prices came down by 8 paise a litre. Diesel, on the other hand, remained unchanged for seventh day in a row.

In the national capital, petrol is selling at Rs 76.27 per litre. For other metro cities, petrol prices per litre fell to Rs 78.94 in Kolkata, Rs 84.06 in Mumbai and Rs 79.16 in Chennai.

After hitting an all-time high of Rs 78.43 a litre for petrol and Rs 69.31 for diesel on May 29, the government has been under immense pressure to reduce excise duties (taxes) on fuel.

Currently, petrol and diesel are liable to a duty of Rs 19.48 and 15.33 a litre respectively. On Monday, however, Finance minister Arun Jaitley ruled out the possibility of tax concession on petrol and diesel.

Meanwhile, truck owners and operators went on a nationwide strike on Monday against increasing diesel prices.

Unaltered diesel prices per litre on Tuesday are Rs 67.78 in Delhi, Rs 70.33 in Kolkata, Rs 72.13 in Mumbai, Rs 71.54 in Chennai.

Since January 1, 2018, petrol prices have risen by Rs 6.46 a litre and diesel by Rs 8.21. The fuel price rise has triggered inflation, which has doubled in a year to 4.43 percent in May 2018.

The Brent crude oil prices went up on Monday by $1 to $ 74.50 a barrel despite suggestions that OPEC (Organisation for Petroleum Exporting countries).
  

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Comment on this article

  • SMR, Karkala

    Tue, Jun 19 2018

    Petrol and diesel prices rise may fuel Modi government's biggest heartburn yet.
    The government's refusal to provide any relief to the common man has invited sharp attack from the Opposition as well as the common man.
    An year before the 2014 general elections, the resurgent Bharatiya Janata Party (BJP) had myriad reasons to be happy as social media, which was getting increasingly powerful, took the hapless Manmohan Singh government to the cleaners.
    The wheel has come full circle now. Now it's the turn of Prime Minister Narendra Modi to be at the receiving end as retail prices of petrol and diesel are at the highest level ever. On May 20, petrol was selling in Mumbai at Rs 84 per litre, the commodity's highest ever price in the country. On May 22, petrol and diesel prices were raised across the country for the ninth consecutive day as oil marketing companies (OMCs) relentlessly kept on passing on the increase in international fuel prices to the consumers after a 19-day price hike freeze apparently for the Karnataka polls.
    Modi government's accountability is far greater than the previous UPA government because during the fag end of Manmohan Singh's second term, the international oil prices had touched $150 a barrel, almost double than today's prices. If you consider the example of petrol and diesel prices in Delhi today - Rs 76 and Rs 68.08 per litre respectively, the highest recorded ever - petrol prices had last reached the Rs 76 per litre mark on September 14, 2013, when crude oil prices were hovering around $108-$115 per barrel.
    Why hasn't the government included petrol and diesel in the GST regime? Under GST, the maximum tax slab is that of 28 per cent whereas the government is collecting much higher taxes by keeping petrol and diesel out of GST.
    If the government were to do this then at the maximum tax slab of 28 per cent, the per litre retail prices of petrol and diesel would come down to Rs 43 and Rs 37,respectively.
    GST is the solution for common man.
    JaiHind

    DisAgree Agree [1] Reply Report Abuse

  • Karthik, Konaje

    Tue, Jun 19 2018

    Government amassed 1.76 lakh crores and 2.37 lakh crores revenue in 2016 and 17 respectively in the form of tax on petroleum products. All this money is very much required to write the loan off of corporate buddies, facilitate their safe exit with the loot etc etc..

    DisAgree Agree [1] Reply Report Abuse

  • David Pais, Mangalore

    Tue, Jun 19 2018

    in da upcoming elections chaiwala may reduce. may b jan 2018 petrol price per litre rs. 30/=

    DisAgree [1] Agree [5] Reply Report Abuse

  • David Pais, Mangalore

    Tue, Jun 19 2018

    in da upcoming elections chaiwala may reduce. may b jan 2019 petrol price per litre rs. 30/

    DisAgree Agree [2] Reply Report Abuse

  • ANIKETH, MUMBAI

    Tue, Jun 19 2018

    you wont like if it comes to 30?

    DisAgree [1] Agree [1] Reply Report Abuse

  • geoffrey, hat hill

    Tue, Jun 19 2018

    Petrol price hike/dip analogous to India's overall progress after 2014: one step forward, two steps backward.

    DisAgree [1] Agree [4] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Jun 19 2018

    Price reduction is planned in phases.
    Keeping in mind 2019 general elections by that time it could be close to Rs. 60 & 45 respectively.

    DisAgree [2] Agree [4] Reply Report Abuse

  • D.Shetty, mangalore / Bahrain

    Tue, Jun 19 2018

    really annoyed by ignorance we indians are... other than political differences nothing we can understand... being in gulf having wells all around price has been increased and india being major importer we all cry if there is increase over pricing...

    DisAgree [1] Agree [4] Reply Report Abuse

  • Mahi, Mangalore

    Tue, Jun 19 2018

    Meanwhile Karnataka govt hiked electricity bill by 15-20% and there is no outrage. Electricity bill is permanent where are petrol prices can come down or go up.

    DisAgree Agree [3] Reply Report Abuse

  • mahesh, Mangalore

    Tue, Jun 19 2018

    Great news.

    DisAgree [5] Agree [4] Reply Report Abuse

  • Flavian dsouza, chik/bengaluru

    Tue, Jun 19 2018

    Unless we free up petrol from Ambanis we will have no respite from this !!!

    DisAgree [9] Agree [11] Reply Report Abuse

  • Rathan, Mangalore

    Tue, Jun 19 2018

    Flavian
    Improve your GK ambani is not India .they expanded their kingdom during Khangress rule and Anil was forced to pay the pending dues of his telecom company during MODI rule

    DisAgree [5] Agree [8] Reply Report Abuse

  • j.anata, Mangaluru / Bengaluru

    Tue, Jun 19 2018

    What has Ambani got to do with Petrol other than his minuscule refinery which cannot feed 5% of India's gas guzzlers?

    DisAgree [3] Agree [8] Reply Report Abuse

  • mahesh, Mangalore

    Tue, Jun 19 2018

    Ignorant people who do not understand the petrol pricing should not comment.

    DisAgree [4] Agree [6] Reply Report Abuse

  • Ediboy, mangalore

    Tue, Jun 19 2018

    And how do you explain the present price of petrol and diesel in India. What happened when per barrel price was 40 USD in international market? Leave the Ambanis.. Where is the money actually going?? dont give us the development tablet. All know ache din have not come. I cant hear that slogan now

    DisAgree [1] Agree [2] Reply Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Tue, Jun 19 2018

    Ediboy, Have you seen the union budget and different state budgets presented? Have you compared the previous budgets? Did you notice increase in revenue and increase in expenditure?

    DisAgree [2] Agree [1] Report Abuse

  • Karthik Karkera, Maryhill Mangalore

    Tue, Jun 19 2018

    Flavian, it shows your ignorance that's it. Please study how the petrol/diesel pricing happen. What the hell has Ambani got to do with Petrol pricing? It is the central and state governments which almost equally share the revenues from this.

    DisAgree [4] Agree [3] Reply Report Abuse


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