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Petrol price hiked by 40 paise/litre, diesel up by 45 paise

  •   Wed, Jun 10 2020 11:47:27 AM

Daijiworld Media Network – New Delhi

New Delhi, Jun 10: Petrol price hiked by 40 paise/litre, diesel price is up by 45 paise. This is the 4th straight daily increase in fuel prices after oil PSUs ended 82-day hiatus in rate revision.

Daily price revision has restarted, an oil company official said.

While oil PSUs have regularly revised Aviation Turbine Fuel (ATF) and LPG prices, they had since March 16 kept petrol and diesel prices on hold, ostensibly on account of extreme volatility in the international oil markets.

Auto fuel prices were frozen soon after the government raised excise duty on petrol and diesel by Rs 3 per litre each to mop up gains arising from falling international rates.

The government on May 6 again raised excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel.

Oil companies, instead of passing on the excise hike to consumers, decided to adjust them against the reduction required because of the drop in international oil prices. They used the same tool and did not pass on the Re 1 per litre hike required for switching over to ultra-clean BS-VI grade fuel from April 1.
  

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Comment on this article

  • smr, Karkala

    Wed, Jun 10 2020

    Fuel prices have been Modi govt’s go-to cash cow. Compared to UPA, the NDA government has collected more taxes on fuel, mostly by hiking excise duty.
    During the UPA regime, from 2011 to 2014, the crude oil prices ranged from $74.33 to $102.15 per barrel. Accordingly, the retail prices ranged between ₹61.5 and ₹78.7 at that point in time.

    In the wake of the coronavirus outbreak, the global crude oil prices have been crashing for over a month, bringing current oil prices as low as $30 a barrel. However, no major decline has been witnessed in retail prices of petrol in accordance with the fall in global prices. Instead, the government recently increased the excise duty on petrol and diesel.

    After a ₹3 hike recently, the excise duty on petrol stands at ₹22.98 per litre and that on diesel at ₹18.83 per litre. It should be noted here that when the Modi government assumed office in 2014, the taxes were at ₹9.48 and ₹3.56 per litre for petrol and diesel respectively.

    Perhaps PM Modi's India is the only country in the world with production of Rs18, Indians now pay 275% in taxes to government on every liter of petrol sold.

    When Modi was then Chief Minister of Gujarat he twitted "Massive hike in #petrol prices is a prime example of the failure of Congress-led UPA. This will put a burden of hundreds of crores on Guj."
    7:54 AM · May 23, 2012·

    By taking his own words in to consideration is Prime Minister Modi so called 'Good Governance' regime is not an failure?

    Jai Hind

    DisAgree Agree Reply Report Abuse

  • Salah, AUH

    Wed, Jun 10 2020

    Congratulations to all Indians, we are now paying 275% tax on fuel!

    Thank you Modiji for making us feel so rich!

    DisAgree Agree [8] Reply Report Abuse

  • Nice, Mangalore

    Wed, Jun 10 2020

    .

    Congratulations to all winning Voters
    Sorry for the Voters who lost

    .

    DisAgree Agree [1] Reply Report Abuse

  • Ramesh, Udupi

    Wed, Jun 10 2020

    They came to power in the name of vikas.. but the reality is vinash everywhere...

    DisAgree Agree [11] Reply Report Abuse

  • Arman, Dubai

    Wed, Jun 10 2020

    WHO IS THE RISING STAR SINCE 2014??

    DisAgree Agree [10] Reply Report Abuse

  • Nice, Mangalore

    Wed, Jun 10 2020

    .

    And in the next couple of months, it will be reduced don't worry
    And the campaign will be we have reduced FUEL price

    And innocent people will fall for this

    Common educated citizens who religiously pay TAXes are silent sufferers

    .

    DisAgree Agree [15] Reply Report Abuse

  • Anonymous, Muscat

    Wed, Jun 10 2020

    Just remember

    This clowns were elected in 2014 keeping petrol prices as agenda

    People rethink when you vote

    DisAgree Agree [12] Reply Report Abuse

  • Jossy Tauro, Mangalore /Abudhabi

    Wed, Jun 10 2020

    Promises made in election campaigns..Everything will become cheap. Now feel like promises made in earth and fulfilled in heaven ..No one have control nowadays .Only big talks. But still people worship them.

    DisAgree Agree [10] Reply Report Abuse

  • Mangalurian, Mangaluru

    Wed, Jun 10 2020

    The Central Government, with wrong governance and hardly any money left, has a stark choice:

    Either sack half the babus, or raise the petrol price.

    One can expect petrol will be Government's saviour for at least another 10 years. Every other revenue is down.

    A side-effect: There will be no encouragement for electric vehicles.

    PS: Bullet train can be cancelled too. But then Choksi's fat compatriots will suffer.

    DisAgree Agree [2] Reply Report Abuse

  • AM, Mangalore

    Wed, Jun 10 2020

    What is happening in our country? There is no finance ministry, no petroleum ministry. Everything is out of control. Even Pakistan reduced the price of petrol and our country going on increasing the prices.

    DisAgree Agree [21] Reply Report Abuse

  • Ronald D, Udupi

    Wed, Jun 10 2020

    Is an aim to push people to the wall??? May be an attempt to make people walk.....while cycle companies too are closing! We can imagine where we are heading to! Im sure people will reduce the usage of petrol and diesel.....on an average govt will make less money ...... by means of reduced usage. Worldwide governments are supporting their citizens....here it is ulta beats!! Hats off to FM.

    DisAgree [1] Agree [20] Reply Report Abuse

  • Jaswal, Nitte/Karkala

    Wed, Jun 10 2020

    Very less in price hike.

    DisAgree [5] Agree Reply Report Abuse

  • Deshbhakht, Mangalore

    Wed, Jun 10 2020

    Have any of you heard a price rise in Crude Oil ? We are getting a price rise. Why ??

    Well, it happens when there is a governance with a difference in the country. Just one country in the world.

    DisAgree [1] Agree [16] Reply Report Abuse


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