Fuel prices reach new high; Cong, truckers to hold protest

Fuel prices reach new high; Cong, truckers to hold protest
NEW DELHI, SEP 8 (AGENCIES) | Publish Date: 9/8/2018 12:33:07 PM IST

Petrol price crossed the Rs 80-mark on Saturday in New Delhi and other states to reach an all-time high. The primary transportation fuel is selling at Rs 80.30 per litre in the national capital after an increase of 39 paise. Meanwhile, in Mumbai petrol cost Rs 87.77 per litre after a hike of 38 paise.

Diesel price in Delhi also moved upward to Rs 72.51 per litre after an increase of 44 paise, whereas it reached Rs 76.98 per litre in Mumbai after a hike of 47 paise.
In Dimapur, petrol price per litre cost Rs. 78.12 and diesel Rs. 70.29 while in Kohima petrol price stood at Rs. 78.87 per litre and diesel at Rs. 70.86.
Fuel prices have maintained an upward curve over the course of past few weeks. Petrol price and diesel price have gone up by Rs 2.85 per litre and Rs 3.3 per litre respectively since mid-August. Opposition parties have even threatened to observe a nationwide strike on September 10 in protest against the record-high fuel prices.
Congress protest: Congress which had called for ‘bharat bandh on September 10, has asked the Centre to cut down excise duty on fuel, as was done by previous governments to keep prices in check each time international prices surged. Finance Minister Arun Jaitley, however, remained non-committal to reduce excise duty, arguing that oil prices are volatile and have not shown linear movement.
The high petrol and diesel prices have often been blamed on taxes levied by the states and the Centre on transportation fuels. The Centre currently levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.
In addition to the taxes levied by Centre, states charge Value Added Tax (VAT) on petrol and diesel. The Andaman and Nicobar Islands have the lowest state taxes on fuel at 6 per cent on both petrol and diesel. Mumbai has the highest VAT of 39.12% on petrol, while Telangana levies the highest VAT of 26% on diesel. Delhi charges a VAT of 27% on petrol and 17.24% on diesel. Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT.
Truckers to stage protests: All India Motor Transport Congress (AIMTC) have decided to stage demonstrations across districts to protest against rising diesel and petrol prices.
There has been a steep hike in diesel and petrol prices in the last seven days and ever spiralling prices is utterly disappointing, the All India Motor Transport Congress (AIMTC) said in a statement. Seeking the government’s immediate intervention, the body said its units have decided to stage protests across districts.

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