Fuel prices expected to rise by Rs5 per litre next month

(G.N.S) Dt. 20 New Delhi Petrol prices in Delhi touched a new high of Rs 74.08 per litre on Friday, the highest in almost five years. Today's petrol price in Delhi was Rs 74.08 per litre, highest in last four years. Under the UPA rule in September 2013, OMCs bought crude oil at Rs 7,400 per barrel of oil (Rs 47 per litre) while diesel was priced at Rs 53 per litre in New Delhi.

This content is restricted to site members. Petrol on Friday touched a 55-month high while diesel hit an all-time high.

Earlier, Rahul Gandhi had even accused Narendra Modi of "misinforming people" saying that the middle class is bearing the brunt of rising fuel prices at the behest of the BJP government.

In Kolkata, petrol is retailing at Rs 76.78 a litre and diesel at 68.01 a litre. On Friday, fuel petrol prices were raised marginally by 1 paisa per litre, while diesel prices witnessed an increase of 4 paise per litre.

"Petroleum products need to be brought under the ambit of the Goods and Services Tax (GST), adding that the Centre and states are slowly moving towards it. Petrol, diesel, natural gas, crude oil and jet fuel (ATF) are now not included in the GST, which essentially leads to producers not being able to set-off tax paid on inputs from final tax on product", he added. But, it failed to reduce taxes when the prices of petrol and diesel went up. I don't see crude oil prices rising from here on. This allowed government to end subsidy on petrol and made consumers pay for market-linked prices. The TS government collects 35.2 per cent Value-Added Tax on petrol and 27 per cent on diesel. There may be no respite for the diesel users either with the selling price at its highest ever across the country. "It is because of the "Tax the Consumer" policy of the BJP government".

  • Wendy Palmer