Petrol prices in the country have touched their highest levels since 2014. In the last three years, the petrol price hit its highest at Rs 81.75 per litre in Mumbai on 1 August 2014.
Petrol prices in the country have touched their highest levels since 2014. In the last three years, the petrol price hit its highest at Rs 81.75 per litre in Mumbai on 1 August 2014.
Meanwhile, due to the daily revision price policy, petrol in Mumbai on Wednesday cost Rs 79.48 a litre.
Similarly, petrol per litre cost Rs 70.38 in Delhi, Rs 73.12 in Kolkata and Rs 72.95 in Chennai while diesel price was Rs 58.72 in Delhi, Rs 61.37 in Kolkata, Rs 62.37 in Mumbai and Rs 61.84 in Chennai.
At present, petroleum products have been put outside the Goods and Services Tax Bill ambit. Earlier this month, Petroleum Minister Dharmendra Pradhan said the dynamic pricing regime would continue despite petrol prices going up by over Rs 7 per litre since the scheme was introduced pan-India from mid-June.
He said dynamic pricing ensures that the benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the end-users.
"Daily revision in prices is good. When we started daily revisions on June 16, rates dropped in the first fortnight. Thereafter, it has increased mainly because of rise in global oil prices," he said.
Daily revision allows any fall in international oil rates to be passed on to consumers immediately rather than having to wait for 15 days as in the old system, he added.
"Should prices be hiked by Rs 2.50 or Rs 3 per litre in one go or they should be spaced out in small doses," he asked.
Earlier, the state-run oil marketing companies used to review and revise retail fuel prices every fortnight on the basis of global crude oil prices, while the revision took effect from midnight.
Meanwhile, the daily travellers, all over the nation, have criticised the government, while also requesting them to reconsider the dynamic surge in pricing.
A working Saurav Banerjee from Kolkata said, "In the last six months it was still manageable.But now daily, there has been a price hike and there is no reduction. It should come down and is going beyond the common man's budget," he told ANI.
According to Indian Oil Corporation, effective 6 a.m. on September 12, customers are shelling out Rs. 70.38 for a litre of petrol in Delhi, Rs. 73.12 in Kolkata, Rs. 79.48 in Mumbai and Rs. 72.95 in Chennai.
Diesel is being retailed at Rs. 58.72 per litre, Rs. 61.37 per litre, Rs. 62.37 per litre and Rs. 61.84 per litre respectively.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "petrol pump")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}