Petrol, Diesel prices hiked again, rates at record high

Petrol price hits record high of Rs 80.38 per litre in Delhi; diesel at Rs 72.51 per litre

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Andhra Pradesh government announced a cut of Rs 2/ litre. Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now.

Petrol and diesel retail prices touched record levels on Monday with hiked prices in the national capital. But when the price fell down to $46 dollars, too, the Centre did not reduce the petrol and diesel prices. In a span of one week, prices of petrol and diesel have gone up by Rs 1.65 a litre and Rs 1.92 a litre, respectively.

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Prices of petrol and diesel continued to rise today even as the Congress observes a Bharat Bandh from 9 am to 3 pm over rising fuel prices. Besides Delhi, several other key cities have also come under the effect of hiked prices.

Except for a halt on September 5, fuel prices have been hiked nearly daily across India over the past few weeks.

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Meanwhile, Andhra Pradesh Chief Minister N Chandrababu Naidu announced a cut of Rs 2 per litre on fuel prices, effective from Tuesday. Petrol prices crossed Rs 88 per litre in Mumbai today. "There were hikes of about Rs 1.5 per litre in the earlier system when the revision took place on fortnightly basis", said Arvind Thakkar, president of Federation of Gujarat Petroleum Dealers Association, the apex body of all local associations of petrol pump operators in the state. However, Finance Minister Arun Jaitley denied the request saying global oil prices volatile and haven't shown any linear movement.

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. In Chennai, petrol costs Rs 83.91 and diesel Rs 76.98. On the other hand, Telangana levies the highest Value-Added Tax of 26 per cent on diesel.

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