<p>Fuel prices in Delhi and Mumbai saw a fresh hike on Tuesday with petrol selling at Rs 82.86 per litre in Delhi and diesel at Rs 74.12 per litre. Petrol prices in the national capital today witnessed a rise of 14 paise whereas diesel rose by 10 paise.&nbsp;</p>

<p>In Mumbai, petrol and diesel prices amounted to Rs 90.22 per litre and Rs 78.69 per litre, respectively.</p>

<p>Petrol prices in Mumbai breached Rs 90-mark on Monday. The revised rates of petrol and diesel in the financial capital stood at Rs 90.08/litre and Rs 78.58/litre respectively.</p>

<p>The petrol price on Monday touched Rs 82.72 per litre. Diesel price in the national capital stood at Rs 74.02 per litre.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Delhi?src=hash&amp;ref_src=twsrc%5Etfw">#Delhi</a> are Rs 82.86 per litre &amp; Rs 74.12 per litre, respectively. Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Mumbai?src=hash&amp;ref_src=twsrc%5Etfw">#Mumbai</a> are Rs 90.22 per litre &amp; Rs 78.69 per litre, respectively. <a href="https://t.co/hs3dbrwfq4">pic.twitter.com/hs3dbrwfq4</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1044389486325616640?ref_src=twsrc%5Etfw">September 25, 2018</a></blockquote>
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<p>Meanwhile, Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that discussions are taking place with the United States regarding the reduction of oil imports from Iran.</p>

<p>"We are in talks with the USA and they told us to reduce the import from Iran significantly. We have done that to some extent. As clarity in the situation emerges, steps will be taken accordingly by the government by November 4," he told ANI.</p>

<p>Fuel prices across the country have been witnessing an unabated rise since the past few weeks. The central government has been blaming the rise in global crude prices for the hike in domestic fuel prices.&nbsp;</p>


Fuel prices in Delhi and Mumbai saw a fresh hike on Tuesday with petrol selling at Rs 82.86 per litre in Delhi and diesel at Rs 74.12 per litre. Petrol prices in the national capital today witnessed a rise of 14 paise whereas diesel rose by 10 paise.

Fuel prices in Delhi and Mumbai saw a fresh hike on Tuesday with petrol selling at Rs 82.86 per litre in Delhi and diesel at Rs 74.12 per litre. Petrol prices in the national capital today witnessed a rise of 14 paise whereas diesel rose by 10 paise. In Mumbai, petrol and diesel prices amounted to Rs 90.22 per litre and Rs 78.69 per litre, respectively. Petrol prices in Mumbai breached Rs 90-mark on Monday. The revised rates of petrol and diesel in the financial capital stood at Rs 90.08/litre and Rs 78.58/litre respectively. The petrol price on Monday touched Rs 82.72 per litre. Diesel price in the national capital stood at Rs 74.02 per litre. Petrol & Diesel prices in #Delhi are Rs 82.86 per litre & Rs 74.12 per litre, respectively. Petrol & Diesel prices in #Mumbai are Rs 90.22 per litre & Rs 78.69 per litre, respectively. pic.twitter.com/hs3dbrwfq4 — ANI (@ANI) September 25, 2018 × Meanwhile, Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that discussions are taking place with the United States regarding the reduction of oil imports from Iran. "We are in talks with the USA and they told us to reduce the import from Iran significantly. We have done that to some extent. As clarity in the situation emerges, steps will be taken accordingly by the government by November 4," he told ANI. Fuel prices across the country have been witnessing an unabated rise since the past few weeks. The central government has been blaming the rise in global crude prices for the hike in domestic fuel prices.

Fuel prices continue to rise, petrol at Rs 90.22 in Mumbai 

<p>Executive director at Indian Oil Corp, Partha Ghosh, on Tuesday stated that crude oil demand in India is expected to grow to 500 million tonnes per year by 2040.</p>

<p>The demand would be equivalent to around 10 million barrels per day (bpd), up from about 4.7 million bpd in 2017, news agency Reuters reported.&nbsp;</p>

<p>The central government has been facing criticism over unabated escalating fuel prices in the country since the past few weeks. The BJP-led government has been blaming the rise in global crude prices for the rising fuel prices in the nation.&nbsp;</p>

<p>Fuel prices in Delhi and Mumbai saw a fresh hike on Tuesday with petrol selling at Rs 82.86 per litre in Delhi and diesel at Rs 74.12 per litre. Petrol prices in the national capital today witnessed a rise of 14 paise whereas diesel rose by 10 paise.&nbsp;</p>

<p>In Mumbai, petrol and diesel prices amounted to Rs 90.22 per litre and Rs 78.69 per litre, respectively.</p>

<p>Meanwhile, Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that discussions are taking place with the United States regarding the reduction of oil imports from Iran.</p>

<p>"We are in talks with the USA and they told us to reduce the import from Iran significantly. We have done that to some extent. As clarity in the situation emerges, steps will be taken accordingly by the government by November 4," he told ANI.</p>

<p>(<em>With inputs from agencies</em>)&nbsp;</p>


Executive director at Indian Oil Corp, Partha Ghosh, on Tuesday stated that crude oil demand in India is expected to grow to 500 million tonnes per year by 2040.

Executive director at Indian Oil Corp, Partha Ghosh, on Tuesday stated that crude oil demand in India is expected to grow to 500 million tonnes per year by 2040. The demand would be equivalent to around 10 million barrels per day (bpd), up from about 4.7 million bpd in 2017, news agency Reuters reported. The central government has been facing criticism over unabated escalating fuel prices in the country since the past few weeks. The BJP-led government has been blaming the rise in global crude prices for the rising fuel prices in the nation. Fuel prices in Delhi and Mumbai saw a fresh hike on Tuesday with petrol selling at Rs 82.86 per litre in Delhi and diesel at Rs 74.12 per litre. Petrol prices in the national capital today witnessed a rise of 14 paise whereas diesel rose by 10 paise. In Mumbai, petrol and diesel prices amounted to Rs 90.22 per litre and Rs 78.69 per litre, respectively. Meanwhile, Department of Economic Affairs Secretary Subhash Chandra Garg on Friday said that discussions are taking place with the United States regarding the reduction of oil imports from Iran. "We are in talks with the USA and they told us to reduce the import from Iran significantly. We have done that to some extent. As clarity in the situation emerges, steps will be taken accordingly by the government by November 4," he told ANI. (With inputs from agencies)

India's crude oil demand to hit 500 million tonnes by 2040: Report

<p>Petrol prices in Delhi saw an unabated rise on Saturday amounting to Rs 82.44 per litre, an increase of &nbsp;12 paise from Friday. However, diesel prices in the national capital remained unchanged at Rs 73.87 per litre.</p>

<p>In Mumbai, petrol prices were hiked by 11 paise at Rs 89.80 per litre, diesel remained unchanged at Rs 78.42 per litre on Saturday.</p>

<p>Petrol prices in the national capital on Friday rose by 10 paise amounting to Rs.82.32 per litre while diesel remained unchanged at Rs.73.87 per litre.</p>

<p>For Mumbai, petrol prices registered a hike of 0.09 paise at Rs 89.69 per litre, diesel remained unchanged at Rs 78.42 per litre on Friday.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Delhi?src=hash&amp;ref_src=twsrc%5Etfw">#Delhi</a> are Rs.82.44 per litre &amp; Rs.73.87 per litre, respectively. Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Mumbai?src=hash&amp;ref_src=twsrc%5Etfw">#Mumbai</a> are Rs.89.80 per litre &amp; Rs.78.42 per litre, respectively. <a href="https://t.co/qDnEqNI8yU">pic.twitter.com/qDnEqNI8yU</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1043301136449646592?ref_src=twsrc%5Etfw">September 22, 2018</a></blockquote>
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<p>Fuel prices remained unchanged for the first time since September 12 on Wednesday with petrol selling at Rs 82.16 per litre and diesel at Rs 73.87 per litre in Delhi.</p>

<p>Meanwhile, Union Transport Minister Nitin Gadkari on Tuesday admitted that fuel prices are "very high and hurting the public".</p>


Petrol prices in Delhi saw an unabated rise on Saturday amounting to Rs 82.44 per litre, an increase of 12 paise from Friday. However, diesel prices in the national capital remained unchanged at Rs 73.

Petrol prices in Delhi saw an unabated rise on Saturday amounting to Rs 82.44 per litre, an increase of 12 paise from Friday. However, diesel prices in the national capital remained unchanged at Rs 73.87 per litre. In Mumbai, petrol prices were hiked by 11 paise at Rs 89.80 per litre, diesel remained unchanged at Rs 78.42 per litre on Saturday. Petrol prices in the national capital on Friday rose by 10 paise amounting to Rs.82.32 per litre while diesel remained unchanged at Rs.73.87 per litre. For Mumbai, petrol prices registered a hike of 0.09 paise at Rs 89.69 per litre, diesel remained unchanged at Rs 78.42 per litre on Friday. Petrol & Diesel prices in #Delhi are Rs.82.44 per litre & Rs.73.87 per litre, respectively. Petrol & Diesel prices in #Mumbai are Rs.89.80 per litre & Rs.78.42 per litre, respectively. pic.twitter.com/qDnEqNI8yU — ANI (@ANI) September 22, 2018 × Fuel prices remained unchanged for the first time since September 12 on Wednesday with petrol selling at Rs 82.16 per litre and diesel at Rs 73.87 per litre in Delhi. Meanwhile, Union Transport Minister Nitin Gadkari on Tuesday admitted that fuel prices are "very high and hurting the public".

Petrol rates continue to rise, inches closer to Rs 90-mark in Mumbai

<p>Petrol prices in the national capital on Friday rose by 10 paise amounting to Rs.82.32 per litre while diesel remained unchanged at Rs.73.87 per litre.</p>

<p>For Mumbai, petrol prices registered a hike of 0.09 paise at Rs 89.69 per litre, diesel remained unchanged at Rs 78.42 per litre.</p>

<p>Petrol was sold at Rs 82.22 per litre in Delhi on Thursday while the prices of diesel remained unchanged at Rs 73.87 per litre.&nbsp;</p>

<p>In Mumbai, petrol prices were registered at a high of Rs 89.60 per litre, while diesel prices remained the same at Rs 78.42 for a litre on Thursday.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Delhi?src=hash&amp;ref_src=twsrc%5Etfw">#Delhi</a> are Rs.82.32 per litre &amp; Rs.73.87 per litre, respectively. Petrol &amp; Diesel prices in <a href="https://twitter.com/hashtag/Mumbai?src=hash&amp;ref_src=twsrc%5Etfw">#Mumbai</a> are Rs.89.69 per litre &amp; Rs.78.42 per litre, respectively. <a href="https://t.co/7vRlnUMZRz">pic.twitter.com/7vRlnUMZRz</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1042941905359781888?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
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<p>Fuel prices remained unchanged for the first time since September 12 on Wednesday with petrol selling at Rs 82.16 per litre and diesel at Rs 73.87 per litre in Delhi.</p>

<p>Meanwhile, Union Transport Minister Nitin Gadkari on Tuesday admitted that fuel prices are "very high and hurting the public".</p>

<p>Gadkari also said he has been told that there is a likelihood of the global crude prices going down. He, however, did not clarify on the source of his information.</p>


Petrol prices in the national capital on Friday rose by 10 paise amounting to Rs.82.32 per litre while diesel remained unchanged at Rs.73.87 per litre. For Mumbai, petrol prices registered a hike of 0.

Petrol prices in the national capital on Friday rose by 10 paise amounting to Rs.82.32 per litre while diesel remained unchanged at Rs.73.87 per litre. For Mumbai, petrol prices registered a hike of 0.09 paise at Rs 89.69 per litre, diesel remained unchanged at Rs 78.42 per litre. Petrol was sold at Rs 82.22 per litre in Delhi on Thursday while the prices of diesel remained unchanged at Rs 73.87 per litre. In Mumbai, petrol prices were registered at a high of Rs 89.60 per litre, while diesel prices remained the same at Rs 78.42 for a litre on Thursday. Petrol & Diesel prices in #Delhi are Rs.82.32 per litre & Rs.73.87 per litre, respectively. Petrol & Diesel prices in #Mumbai are Rs.89.69 per litre & Rs.78.42 per litre, respectively. pic.twitter.com/7vRlnUMZRz — ANI (@ANI) September 21, 2018 × Fuel prices remained unchanged for the first time since September 12 on Wednesday with petrol selling at Rs 82.16 per litre and diesel at Rs 73.87 per litre in Delhi. Meanwhile, Union Transport Minister Nitin Gadkari on Tuesday admitted that fuel prices are "very high and hurting the public". Gadkari also said he has been told that there is a likelihood of the global crude prices going down. He, however, did not clarify on the source of his information.

Petrol prices rise again at Rs 82.32 in Delhi, diesel remains unchanged 

<p>India's domestic sales for diesel and petrol rose to record highs in May, pushing the country's overall fuel consumption for the month higher year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed&nbsp;on Saturday.</p>

<p>Fuel consumption, a proxy for oil demand, totalled 18.72 million tonnes last month, during which diesel sales soared to 7.55 million tonnes and petrol consumption climbed to 2.46 million tonnes - the highest monthly sales figures in PPAC data going back to April 1998.</p>

<p>India, the world's third-largest oil consumer, used 35.2 million tonnes of diesel during January to May this year, up 6 per cent from the corresponding period last year.</p>

<p>The country's monthly diesel sales have averaged 7.05 million tonnes in 2018, compared with a monthly average consumption of 6.6 million tonnes last year.</p>

<p>Sales of gasoline, or petrol, rose 7.6 per cent in May from April and are up 2 per cent from the same month last year. Monthly demand for petrol has averaged 2.27 million tonnes this year, up 7 per cent from the 2017 average of 2.12 million tonnes.</p>

<p>Diesel consumption growth during the calendar year of 2018 may be more than double from last year, analysts and traders told Reuters, aided by an expected regular monsoon that should boost demand for diesel used in harvesting, while the government targets massive infrastructure spending.</p>

<p>More than half of&nbsp;India's population is employed in the farm sector, which depends on diesel to fuel the pumps for land irrigation.</p>

<p>Higher domestic consumption in&nbsp;India, however, may cap the country's capacity to export diesel.</p>

<p>India's diesel exports during March to April this year were 3.79 million tonnes, down 22 per cent from 4.87 million tonnes of the industrial fuel exported during the same time last year.</p>

<p>Last month, petrol and diesel pump prices in&nbsp;India&nbsp;surged to record highs, raising pressure on Prime Minister Narendra Modi's government to find a solution to provide relief to consumers without taking a hit on its finances.</p>

<p>The recent rise in global crude prices was largely behind the surge in domestic prices, but fuel is also heavily taxed by&nbsp;India's state and union authorities, accounting for about half the cost of petrol and 40 per cent of the diesel price.</p>


India, the world's third-largest oil consumer, used 35.2 million tonnes of diesel during January to May this year, up 6 per cent from the corresponding period last year

India's domestic sales for diesel and petrol rose to record highs in May, pushing the country's overall fuel consumption for the month higher year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Saturday. Fuel consumption, a proxy for oil demand, totalled 18.72 million tonnes last month, during which diesel sales soared to 7.55 million tonnes and petrol consumption climbed to 2.46 million tonnes - the highest monthly sales figures in PPAC data going back to April 1998. India, the world's third-largest oil consumer, used 35.2 million tonnes of diesel during January to May this year, up 6 per cent from the corresponding period last year. The country's monthly diesel sales have averaged 7.05 million tonnes in 2018, compared with a monthly average consumption of 6.6 million tonnes last year. Sales of gasoline, or petrol, rose 7.6 per cent in May from April and are up 2 per cent from the same month last year. Monthly demand for petrol has averaged 2.27 million tonnes this year, up 7 per cent from the 2017 average of 2.12 million tonnes. Diesel consumption growth during the calendar year of 2018 may be more than double from last year, analysts and traders told Reuters, aided by an expected regular monsoon that should boost demand for diesel used in harvesting, while the government targets massive infrastructure spending. More than half of India's population is employed in the farm sector, which depends on diesel to fuel the pumps for land irrigation. Higher domestic consumption in India, however, may cap the country's capacity to export diesel. India's diesel exports during March to April this year were 3.79 million tonnes, down 22 per cent from 4.87 million tonnes of the industrial fuel exported during the same time last year. Last month, petrol and diesel pump prices in India surged to record highs, raising pressure on Prime Minister Narendra Modi's government to find a solution to provide relief to consumers without taking a hit on its finances. The recent rise in global crude prices was largely behind the surge in domestic prices, but fuel is also heavily taxed by India's state and union authorities, accounting for about half the cost of petrol and 40 per cent of the diesel price.

India's petrol, diesel demand rise to record highs in May

<p>The <a href="http://wionews.com/india-news/petrol-prices-reduce-by-40-paise-diesel-by-30-on-11th-consecutive-day-143242">prices of petrol and diesel fell again </a>on Sunday making it the twelfth consecutive downfall in the price.</p>

<p>While the prices of petrol reduced by 20 paise per litre, that of diesel lowered by 18 paise per litre.</p>

<p>The prices of petrol and diesel after the twelfth consecutive reduction came down to Rs 76.62 and Rs 68.1 Rs respectively.</p>

<p>The price of petrol and diesel differs from state to state depending on local sales tax or VAT.</p>

<p>The total reduction in the price of petrol and diesel after the 12th consecutive cut accounted for Rs 1.69 and Rs 1.2 respectively.</p>

<p>The rates of the petrol and diesel are the cheapest in Delhi compared to other metros and most State capitals.</p>

<p>The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors.</p>

<p>There has been a consistent reduction in the price of petrol and diesel after the government faced a severe backlash from the opposition for failing to control the rising price.</p>

<p>The consecutive increase in the prices since May 2014 had led to an increase in the price of petrol by Rs 3.55 per litre and diesel by Rs 2.78.</p>


There has been a consistent reduction in the price of petrol and diesel after the government faced a severe backlash from the opposition for failing to control the rising price

The prices of petrol and diesel fell again on Sunday making it the twelfth consecutive downfall in the price. While the prices of petrol reduced by 20 paise per litre, that of diesel lowered by 18 paise per litre. The prices of petrol and diesel after the twelfth consecutive reduction came down to Rs 76.62 and Rs 68.1 Rs respectively. The price of petrol and diesel differs from state to state depending on local sales tax or VAT. The total reduction in the price of petrol and diesel after the 12th consecutive cut accounted for Rs 1.69 and Rs 1.2 respectively. The rates of the petrol and diesel are the cheapest in Delhi compared to other metros and most State capitals. The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors. There has been a consistent reduction in the price of petrol and diesel after the government faced a severe backlash from the opposition for failing to control the rising price. The consecutive increase in the prices since May 2014 had led to an increase in the price of petrol by Rs 3.55 per litre and diesel by Rs 2.78.

Petrol prices reduced by 20 paise, diesel by 18 paise; 12th consecutive day of cuts

<p>The prices of petrol and diesel fell again on Saturday making it the eleventh consecutive downfall in the price.</p>

<p>While the prices of petrol reduced by&nbsp;40 paise per litre, that of diesel lowered by&nbsp;30 paise per litre.</p>

<p>The price of the petrol and diesel is being monitored by the state-run oil marketing companies.</p>

<p>The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors.</p>

<p>There has been a consistent&nbsp;reduction in the price of petrol and diesel after&nbsp;the government faced a severe backlash from the opposition for failing to control the rising price.</p>

<p>The consecutive increase in the prices since May 2014 had led to an increase in the price of petrol by Rs 3.55 per litre and diesel by Rs 2.78.</p>


The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors

The prices of petrol and diesel fell again on Saturday making it the eleventh consecutive downfall in the price. While the prices of petrol reduced by 40 paise per litre, that of diesel lowered by 30 paise per litre. The price of the petrol and diesel is being monitored by the state-run oil marketing companies. The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors. There has been a consistent reduction in the price of petrol and diesel after the government faced a severe backlash from the opposition for failing to control the rising price. The consecutive increase in the prices since May 2014 had led to an increase in the price of petrol by Rs 3.55 per litre and diesel by Rs 2.78.

Petrol prices reduce by 40 paise, diesel by 30 on 11th consecutive day

<p>The price of non-branded petrol was recorded as Rs 77.42 in Delhi, Rs 80.07 in Kolkata, Rs 85.24 in Mumbai and Rs 80.37 in Chennai, while the prices of non-branded Diesel accounted for Rs 68.58 in Delhi, Rs 71.13 in Kolkata, Rs 73.02 in Mumbai and Rs 72.40 in Chennai on Friday.</p>

<p>According to the Indian Oil Corporation, the prices of petrol reduced by 21-22 paisa per litre in Delhi, Kolkata, Mumbai and Chennai compared with the previous day's price. While the prices of diesel went down by 15-16 paise per litre.</p>

<p>The price of the petrol and diesel is being monitored by the state-run oil marketing companies.</p>

<p>The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors.</p>

<p>After the consistent reduction in the price of the two for ten days, the prices for petrol and diesel have not even reduced by a rupee.&nbsp;</p>

<p>While the consecutive increase in the prices since May 2014 had led to an increase of Rs 3.55 per litre and diesel by Rs 2.78.</p>

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<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Price of non-branded Petrol in Delhi-Rs 77.42, Kolkata-Rs 80.07, Mumbai -Rs 85.24 and Chennai-Rs 80.37. Prices of non-branded Diesel in<br />
Delhi-Rs 68.58, Kolkata-Rs 71.13, Mumbai-Rs 73.02 and Chennai-Rs 72.40.</p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1004918721108774912?ref_src=twsrc%5Etfw">June 8, 2018</a></blockquote>
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<p>&nbsp;</p>


The price of non-branded petrol was recorded as Rs 77.42 in Delhi, Rs 80.07 in Kolkata, Rs 85.24 in Mumbai and Rs 80.37 in Chennai, while the prices of non-branded Diesel accounted for Rs 68.58 in Delhi, Rs 71.13 in Kolkata, Rs 73.02 in Mumbai and Rs 72.40 in Chennai on Friday

The price of non-branded petrol was recorded as Rs 77.42 in Delhi, Rs 80.07 in Kolkata, Rs 85.24 in Mumbai and Rs 80.37 in Chennai, while the prices of non-branded Diesel accounted for Rs 68.58 in Delhi, Rs 71.13 in Kolkata, Rs 73.02 in Mumbai and Rs 72.40 in Chennai on Friday. According to the Indian Oil Corporation, the prices of petrol reduced by 21-22 paisa per litre in Delhi, Kolkata, Mumbai and Chennai compared with the previous day's price. While the prices of diesel went down by 15-16 paise per litre. The price of the petrol and diesel is being monitored by the state-run oil marketing companies. The Indian Oil Corporation reviews the prices by comparing it with global crude oil and rupee-dollar forex rates, among other factors. After the consistent reduction in the price of the two for ten days, the prices for petrol and diesel have not even reduced by a rupee. While the consecutive increase in the prices since May 2014 had led to an increase of Rs 3.55 per litre and diesel by Rs 2.78. Price of non-branded Petrol in Delhi-Rs 77.42, Kolkata-Rs 80.07, Mumbai -Rs 85.24 and Chennai-Rs 80.37. Prices of non-branded Diesel in Delhi-Rs 68.58, Kolkata-Rs 71.13, Mumbai-Rs 73.02 and Chennai-Rs 72.40. — ANI (@ANI) June 8, 2018 ×

Petrol, diesel prices reduce for 10th day

<p>Diesel and petrol prices by 5 paise and 6 paise per litre, respectively, after automobile fuel prices reached record highs on Tuesday.</p>

<p>In Delhi, Petrol now costs Rs 78.29 per litre, while diesel price has been revised to Rs 69.20 a litre.</p>

<p>Besides Delhi, the revised petrol prices in other metro cities are - Rs 80.92 in Kolkata, Rs 86.10 in Mumbai and Rs 81.28 in Chennai.</p>

<p>Meanwhile, the revised Diesel price was Rs 71.75 in Kolkata, Rs 73.67 in Mumbai and 73.06 in Chennai.</p>

<p>Petrol prices were raised daily since 14 May after three state-run firms—Indian Oil, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL)—refrained from increasing prices since 24 April and paused it while the Karnataka election campaign was going on.</p>


Prices vary from state-to-state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.

Diesel and petrol prices by 5 paise and 6 paise per litre, respectively, after automobile fuel prices reached record highs on Tuesday. In Delhi, Petrol now costs Rs 78.29 per litre, while diesel price has been revised to Rs 69.20 a litre. Besides Delhi, the revised petrol prices in other metro cities are - Rs 80.92 in Kolkata, Rs 86.10 in Mumbai and Rs 81.28 in Chennai. Meanwhile, the revised Diesel price was Rs 71.75 in Kolkata, Rs 73.67 in Mumbai and 73.06 in Chennai. Petrol prices were raised daily since 14 May after three state-run firms—Indian Oil, Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL)—refrained from increasing prices since 24 April and paused it while the Karnataka election campaign was going on.

Petrol price cut by 6 paise per litre, diesel by 5 paise

<p>Following the marginal one paisa cut in the fuel prices, former Petroleum and Natural Gas Minister&nbsp;M&nbsp;Veerappa Moily&nbsp;called the Centre, 'cruel'.</p>

<p>Talking to media, the former Union Minister said, "Reducing one paisa on petrol is meaningless. This shows that he is mocking the people. These people are putting a lot of excise duty which we have not done during our regime. This is totally burdensome. People are suffering. When in entire Asia the price is so much down, the price in India is very much high. So, it is a very cruel way of dealing with it."</p>

<p>Yesterday, the&nbsp;Indian Oil Corporation&nbsp;(IOCL), in a statement, said that the petrol prices in&nbsp;Delhi&nbsp;have gone down by one paisa.</p>

<p>On Wednesday, in&nbsp;Delhi,&nbsp;Kolkata,&nbsp;Mumbai&nbsp;and&nbsp;Chennai, petrol retailed at Rs 78.42, Rs 81.05, Rs 86.23 and Rs 81.42 per litre respectively while diesel sold at Rs 69.50, Rs 71.85, Rs 73.78 and Rs 73.17 per litre in&nbsp;Delhi,&nbsp;Kolkata,&nbsp;Mumbai&nbsp;and&nbsp;Chennai respectively.</p>

<p>On a related note, Kerala Chief Minister Pinarayi Vijayan has announced that the state government will reduce the prices of petrol and diesel by Rs1 in the state.</p>

<p>Prices vary from state to state depending on local sales tax or VAT.&nbsp;Delhi&nbsp;has the cheapest price among all metros and most state capitals.</p>

<p>Earlier, Petroleum and Natural Gas Minister Dharmendra Pradhan on May 28 attributed the rise in fuel price to the increase in the cost of crude oil in the international market and the rupee-dollar exchange rate.</p>


Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals

Following the marginal one paisa cut in the fuel prices, former Petroleum and Natural Gas Minister M Veerappa Moily called the Centre, 'cruel'. Talking to media, the former Union Minister said, "Reducing one paisa on petrol is meaningless. This shows that he is mocking the people. These people are putting a lot of excise duty which we have not done during our regime. This is totally burdensome. People are suffering. When in entire Asia the price is so much down, the price in India is very much high. So, it is a very cruel way of dealing with it." Yesterday, the Indian Oil Corporation (IOCL), in a statement, said that the petrol prices in Delhi have gone down by one paisa. On Wednesday, in Delhi, Kolkata, Mumbai and Chennai, petrol retailed at Rs 78.42, Rs 81.05, Rs 86.23 and Rs 81.42 per litre respectively while diesel sold at Rs 69.50, Rs 71.85, Rs 73.78 and Rs 73.17 per litre in Delhi, Kolkata, Mumbai and Chennai respectively. On a related note, Kerala Chief Minister Pinarayi Vijayan has announced that the state government will reduce the prices of petrol and diesel by Rs1 in the state. Prices vary from state to state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals. Earlier, Petroleum and Natural Gas Minister Dharmendra Pradhan on May 28 attributed the rise in fuel price to the increase in the cost of crude oil in the international market and the rupee-dollar exchange rate.

One paisa fuel cut is meaningless: Veerappa Moily

<p>After a mere 1 paisa cut in fuel prices on Wednesday, petrol and diesel costs saw a further drop on Thursday morning. Fuel prices dropped by 7 paisa in Delhi, Mumbai, Kolkata and Chennai, settling at Rs 78.35, Rs 86.16, Rs 80.98 and Rs 81.35 per litre respectively.&nbsp;</p>

<p>Diesel prices for the four metropolitan cities came down by 5 paisa with the fuel selling at Rs 69.25 per litre in Delhi, Rs 73.73 for a litre in Mumbai. For Chennai, diesel prices on Thursday came down to Rs 73.12 a litre while people in Kolkata will be required to shell out Rs 71.80 per litre for the fuel.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi (petrol in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 31</td>
			<td>78.35</td>
			<td>86.16</td>
			<td>80.98</td>
			<td>81.35</td>
		</tr>
		<tr>
			<td>May 30</td>
			<td>78.42</td>
			<td>86.23</td>
			<td>81.05</td>
			<td>81.42</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>78.43</td>
			<td>86.24</td>
			<td>81.06</td>
			<td>81.43</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>78.27</td>
			<td>86.08</td>
			<td>80.91</td>
			<td>81.26</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>78.12</td>
			<td>85.93</td>
			<td>80.76</td>
			<td>81.11</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>77.97</td>
			<td>85.78</td>
			<td>80.61</td>
			<td>80.95</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>77.47</td>
			<td>85.29</td>
			<td>80.12</td>
			<td>80.42</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>On Wednesday, the Indian Oil Corporation revised its fuel rates cutting prices by just a paisa. The oil company clarified that the revised price was actually 1 paisa and not 60 paisa as previously reported, blaming it on a "clerical error".</p>

<table border="1" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>Date&nbsp;</td>
			<td>Delhi (diesel in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 31</td>
			<td>69.25</td>
			<td>73.73</td>
			<td>71.80</td>
			<td>73.12</td>
		</tr>
		<tr>
			<td>May 30</td>
			<td>69.30</td>
			<td>73.78</td>
			<td>71.85</td>
			<td>72.17</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>69.31</td>
			<td>73.79</td>
			<td>71.86</td>
			<td>73.18</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>69.17</td>
			<td>73.64</td>
			<td>71.72</td>
			<td>73.03</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>69.06</td>
			<td>73.53</td>
			<td>71.61</td>
			<td>72.91</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>68.90</td>
			<td>73.36</td>
			<td>71.45</td>
			<td>72.74</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>68.53</td>
			<td>72.96</td>
			<td>71.08</td>
			<td>72.35</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>68.34</td>
			<td>72.76</td>
			<td>70.89</td>
			<td>72.14</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>68.08</td>
			<td>72.48</td>
			<td>70.63</td>
			<td>71.87</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>67.82</td>
			<td>72.21</td>
			<td>70.37</td>
			<td>71.59</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>67.57</td>
			<td>71.94</td>
			<td>70.12</td>
			<td>71.32</td>
		</tr>
	</tbody>
</table>

<p>After over a fortnight of continuous hike in fuel prices, petrol and diesel costs across India saw minor reductions on Wednesday.&nbsp;</p>


On Wednesday, the Indian Oil Corporation revised its fuel rates cutting prices by just a paisa

After a mere 1 paisa cut in fuel prices on Wednesday, petrol and diesel costs saw a further drop on Thursday morning. Fuel prices dropped by 7 paisa in Delhi, Mumbai, Kolkata and Chennai, settling at Rs 78.35, Rs 86.16, Rs 80.98 and Rs 81.35 per litre respectively. Diesel prices for the four metropolitan cities came down by 5 paisa with the fuel selling at Rs 69.25 per litre in Delhi, Rs 73.73 for a litre in Mumbai. For Chennai, diesel prices on Thursday came down to Rs 73.12 a litre while people in Kolkata will be required to shell out Rs 71.80 per litre for the fuel. Date Delhi (petrol in Rs/per litre) Mumbai Kolkata Chennai May 31 78.35 86.16 80.98 81.35 May 30 78.42 86.23 81.05 81.42 May 29 78.43 86.24 81.06 81.43 May 28 78.27 86.08 80.91 81.26 May 27 78.12 85.93 80.76 81.11 May 26 77.97 85.78 80.61 80.95 May 25 77.83 85.65 80.47 80.80 May 24 77.47 85.29 80.12 80.42 May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 On Wednesday, the Indian Oil Corporation revised its fuel rates cutting prices by just a paisa. The oil company clarified that the revised price was actually 1 paisa and not 60 paisa as previously reported, blaming it on a "clerical error". Date Delhi (diesel in Rs/per litre) Mumbai Kolkata Chennai May 31 69.25 73.73 71.80 73.12 May 30 69.30 73.78 71.85 72.17 May 29 69.31 73.79 71.86 73.18 May 28 69.17 73.64 71.72 73.03 May 27 69.06 73.53 71.61 72.91 May 26 68.90 73.36 71.45 72.74 May 25 68.75 73.20 71.30 72.58 May 24 68.53 72.96 71.08 72.35 May 23 68.34 72.76 70.89 72.14 May 22 68.08 72.48 70.63 71.87 May 21 67.82 72.21 70.37 71.59 May 20 67.57 71.94 70.12 71.32 After over a fortnight of continuous hike in fuel prices, petrol and diesel costs across India saw minor reductions on Wednesday.

Fuel prices drop further, petrol by 7 paisa and diesel by 5

<p>After over a fortnight of continuous hike in fuel prices, petrol and diesel costs across the country saw minor reductions on Wednesday. In Delhi, petrol per litre came down by 60 paise settling at Rs 77.83. For Mumbai and Kolkata the relief equalled to around 59 paise with petrol selling at Rs 85.65 and Rs 80.47 per litre respectively. In Chennai, petrol per litre costs Rs 80.80, around 63 paise short from Tuesday's rate.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi (petrol in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 30</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>78.43</td>
			<td>86.24</td>
			<td>81.06</td>
			<td>81.43</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>78.27</td>
			<td>86.08</td>
			<td>80.91</td>
			<td>81.26</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>78.12</td>
			<td>85.93</td>
			<td>80.76</td>
			<td>81.11</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>77.97</td>
			<td>85.78</td>
			<td>80.61</td>
			<td>80.95</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>77.47</td>
			<td>85.29</td>
			<td>80.12</td>
			<td>80.42</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>Diesel prices across the country have also mellowed down a bit with the fuel selling at Rs 68.75 per litre in Delhi, at Rs 73.20 per litre in Mumbai while for Kolkata and Chennai the prices stood at Rs 71.30 and Rs 72.58 per litre respectively.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date&nbsp;</td>
			<td>Delhi (diesel in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 30</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>69.31</td>
			<td>73.79</td>
			<td>71.86</td>
			<td>73.18</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>69.17</td>
			<td>73.64</td>
			<td>71.72</td>
			<td>73.03</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>69.06</td>
			<td>73.53</td>
			<td>71.61</td>
			<td>72.91</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>68.90</td>
			<td>73.36</td>
			<td>71.45</td>
			<td>72.74</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>68.53</td>
			<td>72.96</td>
			<td>71.08</td>
			<td>72.35</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>68.34</td>
			<td>72.76</td>
			<td>70.89</td>
			<td>72.14</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>68.08</td>
			<td>72.48</td>
			<td>70.63</td>
			<td>71.87</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>67.82</td>
			<td>72.21</td>
			<td>70.37</td>
			<td>71.59</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>67.57</td>
			<td>71.94</td>
			<td>70.12</td>
			<td>71.32</td>
		</tr>
	</tbody>
</table>

<p>The escalating fuel prices in the country spilt into its 16th consecutive day on Tuesday as petrol price per litre in Delhi climbed to Rs 78.43. Mumbai, Chennai and Kolkata witnessed petrol prices breaking the Rs 80+ mark at Rs 86.24, Rs 81.43 and Rs 81.06 respectively.&nbsp;</p>

<p>Diesel in the national capital on Tuesday amounted to Rs 69.31 per litre while for Mumbai it stood at Rs 73.79. For Chennai, diesel price hit Rs 73.18 per litre and for Kolkata, it was registered at Rs 71.86.</p>


Diesel prices across the country have also mellowed down a bit with the fuel selling at Rs 68.75 per litre in Delhi, at Rs 73.20 per litre in Mumbai

After over a fortnight of continuous hike in fuel prices, petrol and diesel costs across the country saw minor reductions on Wednesday. In Delhi, petrol per litre came down by 60 paise settling at Rs 77.83. For Mumbai and Kolkata the relief equalled to around 59 paise with petrol selling at Rs 85.65 and Rs 80.47 per litre respectively. In Chennai, petrol per litre costs Rs 80.80, around 63 paise short from Tuesday's rate. Date Delhi (petrol in Rs/per litre) Mumbai Kolkata Chennai May 30 77.83 85.65 80.47 80.80 May 29 78.43 86.24 81.06 81.43 May 28 78.27 86.08 80.91 81.26 May 27 78.12 85.93 80.76 81.11 May 26 77.97 85.78 80.61 80.95 May 25 77.83 85.65 80.47 80.80 May 24 77.47 85.29 80.12 80.42 May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 Diesel prices across the country have also mellowed down a bit with the fuel selling at Rs 68.75 per litre in Delhi, at Rs 73.20 per litre in Mumbai while for Kolkata and Chennai the prices stood at Rs 71.30 and Rs 72.58 per litre respectively. Date Delhi (diesel in Rs/per litre) Mumbai Kolkata Chennai May 30 68.75 73.20 71.30 72.58 May 29 69.31 73.79 71.86 73.18 May 28 69.17 73.64 71.72 73.03 May 27 69.06 73.53 71.61 72.91 May 26 68.90 73.36 71.45 72.74 May 25 68.75 73.20 71.30 72.58 May 24 68.53 72.96 71.08 72.35 May 23 68.34 72.76 70.89 72.14 May 22 68.08 72.48 70.63 71.87 May 21 67.82 72.21 70.37 71.59 May 20 67.57 71.94 70.12 71.32 The escalating fuel prices in the country spilt into its 16th consecutive day on Tuesday as petrol price per litre in Delhi climbed to Rs 78.43. Mumbai, Chennai and Kolkata witnessed petrol prices breaking the Rs 80+ mark at Rs 86.24, Rs 81.43 and Rs 81.06 respectively. Diesel in the national capital on Tuesday amounted to Rs 69.31 per litre while for Mumbai it stood at Rs 73.79. For Chennai, diesel price hit Rs 73.18 per litre and for Kolkata, it was registered at Rs 71.86.

Fuel prices finally mellow down after 16 days of consecutive hike

<p>The escalating fuel prices in the country spilt into its 16th consecutive day as petrol price per litre in Delhi climbed to Rs 78.43. Mumbai, Chennai and Kolkata witnessed petrol prices breaking the Rs 80+ mark at Rs 86.24, Rs 81.43 and Rs 81.06 respectively.&nbsp;</p>

<p>Diesel in the national capital amounted to Rs 69.31 per litre while for Mumbai it stood at Rs 73.79. For Chennai, diesel price hit Rs 73.18 per litre and for Kolkata, it was registered at Rs 71.86.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi (petrol in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>78.43</td>
			<td>86.24</td>
			<td>81.06</td>
			<td>81.43</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>78.27</td>
			<td>86.08</td>
			<td>80.91</td>
			<td>81.26</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>78.12</td>
			<td>85.93</td>
			<td>80.76</td>
			<td>81.11</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>77.97</td>
			<td>85.78</td>
			<td>80.61</td>
			<td>80.95</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>77.47</td>
			<td>85.29</td>
			<td>80.12</td>
			<td>80.42</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>On Monday, petrol price per litre in Delhi shot up to Rs 78.27. For Mumbai, petrol per litre was registered at Rs 86.08, Rs 80.91 in Kolkata and Rs 81.26 per litre in Chennai.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date&nbsp;</td>
			<td>Delhi (diesel in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 29</td>
			<td>69.31</td>
			<td>73.79</td>
			<td>71.86</td>
			<td>73.18</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>69.17</td>
			<td>73.64</td>
			<td>71.72</td>
			<td>73.03</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>69.06</td>
			<td>73.53</td>
			<td>71.61</td>
			<td>72.91</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>68.90</td>
			<td>73.36</td>
			<td>71.45</td>
			<td>72.74</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>68.53</td>
			<td>72.96</td>
			<td>71.08</td>
			<td>72.35</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>68.34</td>
			<td>72.76</td>
			<td>70.89</td>
			<td>72.14</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>68.08</td>
			<td>72.48</td>
			<td>70.63</td>
			<td>71.87</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>67.82</td>
			<td>72.21</td>
			<td>70.37</td>
			<td>71.59</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>67.57</td>
			<td>71.94</td>
			<td>70.12</td>
			<td>71.32</td>
		</tr>
	</tbody>
</table>

<p>Diesel prices were recorded at Rs 69.17 per litre in Delhi, Rs 73.64 in Mumbai, Rs 71.72 per litre in Kolkata and Rs 73.03 for a litre in Chennai.&nbsp;</p>

<p><iframe allow="autoplay encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/2R7EMbryXBo" width="560"></iframe></p>

<p>After nearly a fortnight of fuel price hike in India, reports suggest that the government may not give relief from fuel price hike. According to reports, the government has been banking for a global price drop. The mounting fuel prices come as a result of rising global crude oil prices and high excise duty in the country. However, the international prices of Brent crude oil have fallen by nearly $3 per barrel in the last couple of days.&nbsp;</p>


Diesel in the capital amounted to Rs 69.31 per litre while for Mumbai it stood at Rs 73.79

The escalating fuel prices in the country spilt into its 16th consecutive day as petrol price per litre in Delhi climbed to Rs 78.43. Mumbai, Chennai and Kolkata witnessed petrol prices breaking the Rs 80+ mark at Rs 86.24, Rs 81.43 and Rs 81.06 respectively. Diesel in the national capital amounted to Rs 69.31 per litre while for Mumbai it stood at Rs 73.79. For Chennai, diesel price hit Rs 73.18 per litre and for Kolkata, it was registered at Rs 71.86. Date Delhi (petrol in Rs/per litre) Mumbai Kolkata Chennai May 29 78.43 86.24 81.06 81.43 May 28 78.27 86.08 80.91 81.26 May 27 78.12 85.93 80.76 81.11 May 26 77.97 85.78 80.61 80.95 May 25 77.83 85.65 80.47 80.80 May 24 77.47 85.29 80.12 80.42 May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 On Monday, petrol price per litre in Delhi shot up to Rs 78.27. For Mumbai, petrol per litre was registered at Rs 86.08, Rs 80.91 in Kolkata and Rs 81.26 per litre in Chennai. Date Delhi (diesel in Rs/per litre) Mumbai Kolkata Chennai May 29 69.31 73.79 71.86 73.18 May 28 69.17 73.64 71.72 73.03 May 27 69.06 73.53 71.61 72.91 May 26 68.90 73.36 71.45 72.74 May 25 68.75 73.20 71.30 72.58 May 24 68.53 72.96 71.08 72.35 May 23 68.34 72.76 70.89 72.14 May 22 68.08 72.48 70.63 71.87 May 21 67.82 72.21 70.37 71.59 May 20 67.57 71.94 70.12 71.32 Diesel prices were recorded at Rs 69.17 per litre in Delhi, Rs 73.64 in Mumbai, Rs 71.72 per litre in Kolkata and Rs 73.03 for a litre in Chennai. After nearly a fortnight of fuel price hike in India, reports suggest that the government may not give relief from fuel price hike. According to reports, the government has been banking for a global price drop. The mounting fuel prices come as a result of rising global crude oil prices and high excise duty in the country. However, the international prices of Brent crude oil have fallen by nearly $3 per barrel in the last couple of days.

Fuel prices continue to mount for 16th straight day

<p>There seems to be no relief for commuters across the country as fuel prices continued to soar for the 15th consecutive day on May 28.&nbsp;</p>

<p>Petrol price per litre in Delhi today morning shot up to Rs 78.27. For Mumbai petrol per litre was registered at Rs 86.08, Rs 80.91 in Kolkata and Rs 81.26 per litre in Chennai.&nbsp;</p>

<p>Diesel prices were recorded at Rs 69.17 per litre in Delhi, Rs 73.64 in Mumbai, Rs 71.72 per litre in Kolkata and Rs 73.03 for a litre in Chennai.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi (petrol in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>78.27</td>
			<td>86.08</td>
			<td>80.91</td>
			<td>81.26</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>78.12</td>
			<td>85.93</td>
			<td>80.76</td>
			<td>81.11</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>77.97</td>
			<td>85.78</td>
			<td>80.61</td>
			<td>80.95</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>77.47</td>
			<td>85.29</td>
			<td>80.12</td>
			<td>80.42</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre.&nbsp;</p>

<p>The spree of hike in petrol and diesel prices were triggered following a peak in the international crude oil rate.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date&nbsp;</td>
			<td>Delhi (diesel in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 28</td>
			<td>69.17</td>
			<td>73.64</td>
			<td>71.72</td>
			<td>73.03</td>
		</tr>
		<tr>
			<td>May 27</td>
			<td>69.06</td>
			<td>73.53</td>
			<td>71.61</td>
			<td>72.91</td>
		</tr>
		<tr>
			<td>May 26</td>
			<td>68.90</td>
			<td>73.36</td>
			<td>71.45</td>
			<td>72.74</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>68.53</td>
			<td>72.96</td>
			<td>71.08</td>
			<td>72.35</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>68.34</td>
			<td>72.76</td>
			<td>70.89</td>
			<td>72.14</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>68.08</td>
			<td>72.48</td>
			<td>70.63</td>
			<td>71.87</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>67.82</td>
			<td>72.21</td>
			<td>70.37</td>
			<td>71.59</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>67.57</td>
			<td>71.94</td>
			<td>70.12</td>
			<td>71.32</td>
		</tr>
	</tbody>
</table>

<p>The price rise was primarily caused to the sanctions re-imposed by the US against Iran and Venezuela, two among the handful of oil exporting nations.</p>


Petrol price per litre in Delhi today morning shot up to Rs 78.27. For Mumbai petrol per litre was registered at Rs 86.08

There seems to be no relief for commuters across the country as fuel prices continued to soar for the 15th consecutive day on May 28. Petrol price per litre in Delhi today morning shot up to Rs 78.27. For Mumbai petrol per litre was registered at Rs 86.08, Rs 80.91 in Kolkata and Rs 81.26 per litre in Chennai. Diesel prices were recorded at Rs 69.17 per litre in Delhi, Rs 73.64 in Mumbai, Rs 71.72 per litre in Kolkata and Rs 73.03 for a litre in Chennai. Date Delhi (petrol in Rs/per litre) Mumbai Kolkata Chennai May 28 78.27 86.08 80.91 81.26 May 27 78.12 85.93 80.76 81.11 May 26 77.97 85.78 80.61 80.95 May 25 77.83 85.65 80.47 80.80 May 24 77.47 85.29 80.12 80.42 May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre. The spree of hike in petrol and diesel prices were triggered following a peak in the international crude oil rate. Date Delhi (diesel in Rs/per litre) Mumbai Kolkata Chennai May 28 69.17 73.64 71.72 73.03 May 27 69.06 73.53 71.61 72.91 May 26 68.90 73.36 71.45 72.74 May 25 68.75 73.20 71.30 72.58 May 24 68.53 72.96 71.08 72.35 May 23 68.34 72.76 70.89 72.14 May 22 68.08 72.48 70.63 71.87 May 21 67.82 72.21 70.37 71.59 May 20 67.57 71.94 70.12 71.32 The price rise was primarily caused to the sanctions re-imposed by the US against Iran and Venezuela, two among the handful of oil exporting nations.

No relief for commuters as fuel prices continue to soar for 15th straight day

<p>The Petrol and Diesel prices are soaring and they are almost at the all-time highest level. Being the most essential commodity, Petroleum has been the favourite domain for the politicians for the slugfest.</p>

<p>With rising price, opposition parties got a much-awaited issue to put Government of India on backfoot. Rahul Gandhi is throwing a challenge to Modi for reducing prices. On the same time BJP's media cell is active too and these days social media is full of stuff proclaiming that how prices of petroleum products surged during UPA regime (2004-2014) and how Modi has been able to rein them in.</p>

<p>But if you go in a bit deep in the realities of this sector, you will find that all these claims and blames are simply bereft of any logic and they are rather hilarious. Indian Oil & Gas sector is in a state currently that any government can do little to tame price in the shorter run.</p>

<p>With rapid economic growth, India has become an energy guzzler over the past 10-15 years and currently, it is the third largest consumer of energy after USA and China. India consumes around 200 MMT (Million Metric Tonne) of petroleum crude oil per year and around 80 per cent of this is being imported on the international price.&nbsp;</p>

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<h5>The prices of petroleum products are done on import parity and after adding due taxes and dealer’s commissions, MRP is fixed</h5>
</blockquote>
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<p>The prices of petroleum products are done on import parity and after adding due taxes and dealer's commissions, MRP is fixed. Therefore MRP of Petrol and Diesel are linked with international prices of crude oil.</p>

<p>Since we (GOI) can't control the crude price and bound to pay it, the ways to tame MRP is either by reducing taxes or by forcing Oil PSUs to sell products with under-recoveries (basically selling with a loss). Both of these ways would be like feeding gulab jamun to a patient with diabetes. Mean, these measures will give short-term pleasure but they will inflict serious long-term complications.</p>

<p>Cutting taxes would disturb the fiscal discipline which Modi/GOI could bring to an extent over the past four years and would hamper GOI's huge infra push and other planned expenditure.</p>

<p>Forcing under-recoveries (which UPA-2 did for purely political reasons) to Oil companies would only make these companies sick for days to come, restrict the Capex infusion in this sector and of course it cannot last long.</p>

<p>All government can do (that too to silence opposition) in the short term is that it can give some relief by way of slashing tax but it can't make a huge impact on the selling price. Forcing under-recoveries would be the last thing, which Modi/GOI should and would exercise (in case of crude price further takes heavy jump).</p>

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<h5>The government should work to take measures to bring strength in this sector in long run</h5>
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<p>The government should work to take measures to bring strength in this sector in long run. After Modi came to power, GOI has made its oil exploration policy more transparent and business friendly but impact of this on ground would be visible only after many years and that too will not be decisive as the gap between demand and supply is huge and no way India is in the position to multiply its oil production even in the long run.&nbsp;</p>

<p>OPEC (Organization of Petroleum Exporting Countries) is the international body, who plays the prominent role in fixing crude oil price and country like India are bound to pay it.</p>

<p>So the bottom line is that let the politician enjoy the blame and claim game, the onus to live with the problem and withstand with it lies with us, the citizens only. Don't expect a miracle from anybody to get the reprieve. We need to be a judicious energy consumer and take the high petroleum prices as a hard and unavoidable reality.</p>

<p>We can sum up like this. If you are getting petroleum product cheap (like in 2014-16), the government is an accidental hero or otherwise it is an unlucky victim of the situation.</p>

<p><em>(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)</em></p>


The prices of petroleum products are done on import parity and after adding due taxes and dealer's commissions, MRP is fixed

The Petrol and Diesel prices are soaring and they are almost at the all-time highest level. Being the most essential commodity, Petroleum has been the favourite domain for the politicians for the slugfest. With rising price, opposition parties got a much-awaited issue to put Government of India on backfoot. Rahul Gandhi is throwing a challenge to Modi for reducing prices. On the same time BJP's media cell is active too and these days social media is full of stuff proclaiming that how prices of petroleum products surged during UPA regime (2004-2014) and how Modi has been able to rein them in. But if you go in a bit deep in the realities of this sector, you will find that all these claims and blames are simply bereft of any logic and they are rather hilarious. Indian Oil & Gas sector is in a state currently that any government can do little to tame price in the shorter run. With rapid economic growth, India has become an energy guzzler over the past 10-15 years and currently, it is the third largest consumer of energy after USA and China. India consumes around 200 MMT (Million Metric Tonne) of petroleum crude oil per year and around 80 per cent of this is being imported on the international price. The prices of petroleum products are done on import parity and after adding due taxes and dealer’s commissions, MRP is fixed × The prices of petroleum products are done on import parity and after adding due taxes and dealer's commissions, MRP is fixed. Therefore MRP of Petrol and Diesel are linked with international prices of crude oil. Since we (GOI) can't control the crude price and bound to pay it, the ways to tame MRP is either by reducing taxes or by forcing Oil PSUs to sell products with under-recoveries (basically selling with a loss). Both of these ways would be like feeding gulab jamun to a patient with diabetes. Mean, these measures will give short-term pleasure but they will inflict serious long-term complications. Cutting taxes would disturb the fiscal discipline which Modi/GOI could bring to an extent over the past four years and would hamper GOI's huge infra push and other planned expenditure. Forcing under-recoveries (which UPA-2 did for purely political reasons) to Oil companies would only make these companies sick for days to come, restrict the Capex infusion in this sector and of course it cannot last long. All government can do (that too to silence opposition) in the short term is that it can give some relief by way of slashing tax but it can't make a huge impact on the selling price. Forcing under-recoveries would be the last thing, which Modi/GOI should and would exercise (in case of crude price further takes heavy jump). The government should work to take measures to bring strength in this sector in long run × The government should work to take measures to bring strength in this sector in long run. After Modi came to power, GOI has made its oil exploration policy more transparent and business friendly but impact of this on ground would be visible only after many years and that too will not be decisive as the gap between demand and supply is huge and no way India is in the position to multiply its oil production even in the long run. OPEC (Organization of Petroleum Exporting Countries) is the international body, who plays the prominent role in fixing crude oil price and country like India are bound to pay it. So the bottom line is that let the politician enjoy the blame and claim game, the onus to live with the problem and withstand with it lies with us, the citizens only. Don't expect a miracle from anybody to get the reprieve. We need to be a judicious energy consumer and take the high petroleum prices as a hard and unavoidable reality. We can sum up like this. If you are getting petroleum product cheap (like in 2014-16), the government is an accidental hero or otherwise it is an unlucky victim of the situation. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Rising petrol prices - the onus is on the citizens

<p>Petrol and diesel prices were hiked for a 13th consecutive day in a row on Saturday. Although the magnitude of the hike was less as compared to the past four days, the fuel rates were increased by near about 12-20 paise across the UTs and state capitals.</p>

<p>The worst impact of the booming petrol prices will be felt in Mumbai, where the per litre cost jumps to Rs 85.78 today. Diesel in the city will cost at Rs 68.90.&nbsp</p>

<p>In Delhi, the petrol prices have shot to Rs 77.97, whereas, the rate of diesel has been increased to Rs 68.90. Kolkata witnessed a similar fuel rate surge, with petrol costing in the city at Rs 80.61, whereas, the per litre cost of diesel is Rs 71.45.&nbsp</p>

<p>The spree of hike in petrol and diesel prices were triggered following a peak in the international crude oil rate.</p>

<p>The brent crude oil jumped to $84.4 on May 14 -- crossing the $80-benchmark for the first-time ever since November 2014.</p>

<p>The price rise was primarily caused to the sanctions re-imposed by the US against Iran and Venezuela, two among the handful of oil exporting nations.</p>


The price rise was primarily caused to the sanctions re-imposed by the US against Iran and Venezuela, two among the handful of oil exporting nations.

Petrol and diesel prices were hiked for a 13th consecutive day in a row on Saturday. Although the magnitude of the hike was less as compared to the past four days, the fuel rates were increased by near about 12-20 paise across the UTs and state capitals. The worst impact of the booming petrol prices will be felt in Mumbai, where the per litre cost jumps to Rs 85.78 today. Diesel in the city will cost at Rs 68.90. In Delhi, the petrol prices have shot to Rs 77.97, whereas, the rate of diesel has been increased to Rs 68.90. Kolkata witnessed a similar fuel rate surge, with petrol costing in the city at Rs 80.61, whereas, the per litre cost of diesel is Rs 71.45. The spree of hike in petrol and diesel prices were triggered following a peak in the international crude oil rate. The brent crude oil jumped to $84.4 on May 14 -- crossing the $80-benchmark for the first-time ever since November 2014. The price rise was primarily caused to the sanctions re-imposed by the US against Iran and Venezuela, two among the handful of oil exporting nations.

Petrol, diesel prices hiked for 13th consecutive day in a row

<p>Commuters are unlikely to get any relief from soaring oil prices today also as petrol and diesel on Friday morning hit an all-time high in the last five days. Petrol price&nbsp;per litre in Delhi was recorded at Rs 77.83. For Mumbai petrol per litre was registered at Rs 85.65, Rs 80.47 in Kolkata and Rs 80.80 per litre in Chennai.&nbsp;</p>

<p>Diesel was selling at Rs Delhi 68.75 per litre in Delhi, Rs 73.20 in Mumbai, Rs 71.30 per litre in Kolkata and Rs 72.58 for a litre in Chennai.&nbsp;</p>

<p>This is the fifth new high in oil prices recorded in the past five days.&nbsp;</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px;">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi (petrol in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>77.83</td>
			<td>85.65</td>
			<td>80.47</td>
			<td>80.80</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>77.47</td>
			<td>85.29</td>
			<td>80.12</td>
			<td>80.42</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre. In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px;">
	<tbody>
		<tr>
			<td>Date&nbsp;</td>
			<td>Delhi (diesel in Rs/per litre)</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 25</td>
			<td>68.75</td>
			<td>73.20</td>
			<td>71.30</td>
			<td>72.58</td>
		</tr>
		<tr>
			<td>May 24</td>
			<td>68.53</td>
			<td>72.96</td>
			<td>71.08</td>
			<td>72.35</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>68.34</td>
			<td>72.76</td>
			<td>70.89</td>
			<td>72.14</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>68.08</td>
			<td>72.48</td>
			<td>70.63</td>
			<td>71.87</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>67.82</td>
			<td>72.21</td>
			<td>70.37</td>
			<td>71.59</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>67.57</td>
			<td>71.94</td>
			<td>70.12</td>
			<td>71.32</td>
		</tr>
	</tbody>
</table>

<p>According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre.&nbsp;</p>


Petrol prices per litre in Delhi was recorded at Rs 77.83. For Mumbai petrol per litre was registered at Rs 85.65

Commuters are unlikely to get any relief from soaring oil prices today also as petrol and diesel on Friday morning hit an all-time high in the last five days. Petrol price per litre in Delhi was recorded at Rs 77.83. For Mumbai petrol per litre was registered at Rs 85.65, Rs 80.47 in Kolkata and Rs 80.80 per litre in Chennai. Diesel was selling at Rs Delhi 68.75 per litre in Delhi, Rs 73.20 in Mumbai, Rs 71.30 per litre in Kolkata and Rs 72.58 for a litre in Chennai. This is the fifth new high in oil prices recorded in the past five days. Date Delhi (petrol in Rs/per litre) Mumbai Kolkata Chennai May 25 77.83 85.65 80.47 80.80 May 24 77.47 85.29 80.12 80.42 May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre. In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai. Date Delhi (diesel in Rs/per litre) Mumbai Kolkata Chennai May 25 68.75 73.20 71.30 72.58 May 24 68.53 72.96 71.08 72.35 May 23 68.34 72.76 70.89 72.14 May 22 68.08 72.48 70.63 71.87 May 21 67.82 72.21 70.37 71.59 May 20 67.57 71.94 70.12 71.32 According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre.

No relief in sight as petrol, diesel prices hit a new high

<p><a href="http://www.wionews.com/world/kim-trump-summit-entirely-up-to-us-we-will-not-beg-north-korea-139284">Kim-Trump summit 'entirely' up to </a><a href="http://www.wionews.com/world/kim-trump-summit-entirely-up-to-us-we-will-not-beg-north-korea-139284">US</a><a href="http://www.wionews.com/world/kim-trump-summit-entirely-up-to-us-we-will-not-beg-north-korea-139284">, we will not beg: North Korea</a></p>

<p>North Korea's vice foreign minister said the future of the summit between Pyongyang and Washington is "entirely" up to the United States and condemned a media interview by US Vice President Mike Pence in which he compared the North to Libya.</p>

<p><a href="http://www.wionews.com/india-news/anti-sterlite-protests-police-chief-district-collector-transferred-amid-fresh-clashes-139280">Anti-Sterlite protests: Internet suspended, top cop, DC transferred</a></p>

<p>Internet services in Tuticorin have been temporarily suspended from 9 pm on Wednesday until further instruction by the administration.</p>

<p><a href="http://www.wionews.com/india-news/petrol-diesel-prices-continue-to-soar-hit-new-high-in-last-four-days-139288">Petrol, diesel prices continue to soar, hit another new high</a></p>

<p>Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre. In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai.</p>

<p><a href="http://www.wionews.com/india-news/jammu-and-kashmir-pakistan-violates-ceasefire-fires-automatic-weapons-and-mortars-along-loc-in-baramulla-district-139281">Jammu and Kashmir: Pakistan violates ceasefire along LoC in Baramulla district</a></p>

<p>According to reports, Pakistan violated ceasefire early Thursday morning along the Line of Control (LOC) in Kamal Koot area of Uri sector in Jammu and Kashmir's Baramulla District.</p>

<p><a href="http://www.wionews.com/south-asia/heavy-floods-landslides-in-sri-lanka-at-least-9-killed-139219">Heavy floods, landslides in Sri Lanka at least 9 killed</a></p>

<p>Heavy monsoon rains in Sri Lanka have killed at least nine people as the monsoon season kicked off in the emerald country. Reports said at least 38,000 people have been affected by the rains and storms which have lashed central and south Sri Lanka.</p>


Kim-Trump summit 'entirely' up to US, we will not beg: North Korea North Korea's vice foreign minister said the future of the summit between Pyongyang and Washington is "entirely" up to the United States and condemned a media interview by US Vice President Mike Pence in which he compared the North to Libya. Anti-Sterlite protests: Internet suspended, top cop, DC transferred Internet services in Tuticorin have been temporarily suspended from 9 pm on Wednesday until further instruction by the administration. Petrol, diesel prices continue to soar, hit another new high Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre. In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai. Jammu and Kashmir: Pakistan violates ceasefire along LoC in Baramulla district According to reports, Pakistan violated ceasefire early Thursday morning along the Line of Control (LOC) in Kamal Koot area of Uri sector in Jammu and Kashmir's Baramulla District. Heavy floods, landslides in Sri Lanka at least 9 killed Heavy monsoon rains in Sri Lanka have killed at least nine people as the monsoon season kicked off in the emerald country. Reports said at least 38,000 people have been affected by the rains and storms which have lashed central and south Sri Lanka.

News brief: Big stories of the day

<p>Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre.</p>

<p>In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai.</p>

<p>As per the Indian Oil Corporation Limited, petrol prices in Kolkata and Chennai were recorded at Rs 80.12 and Rs 80.42 per litre respectively; diesel prices for both the metro cities were registered at Rs 71.08 and Rs 72.35 a litre respectively.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 500px">
	<tbody>
		<tr>
			<td>Date</td>
			<td>Delhi</td>
			<td>Mumbai</td>
			<td>Kolkata</td>
			<td>Chennai</td>
		</tr>
		<tr>
			<td>May 23</td>
			<td>77.17</td>
			<td>84.99</td>
			<td>79.83</td>
			<td>80.11</td>
		</tr>
		<tr>
			<td>May 22</td>
			<td>76.87</td>
			<td>84.70</td>
			<td>79.53</td>
			<td>79.79</td>
		</tr>
		<tr>
			<td>May 21</td>
			<td>76.57</td>
			<td>84.40</td>
			<td>79.24</td>
			<td>79.47</td>
		</tr>
		<tr>
			<td>May 20</td>
			<td>76.24</td>
			<td>84.07</td>
			<td>78.91</td>
			<td>79.13</td>
		</tr>
	</tbody>
</table>

<p>&nbsp;</p>

<p>This is the fourth record high for petrol prices in the last four days. Petrol in Delhi was selling at Rs 77.17 a litre on Wednesday, Rs 76.87 a litre on Tuesday, and at Rs 76.57 and Rs 76.24 on Monday and Sunday respectively.</p>

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Prices of petrol in Delhi at Rs 77.47/litre and Mumbai at Rs 85.29/litre. In Delhi price of Diesel is at Rs 68.53/litre and Mumbai at Rs 72.96/litre.</p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/999470437401800705?ref_src=twsrc%5Etfw">May 24, 2018</a></blockquote>
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<p>According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre.&nbsp;</p>

<p>On Wednesday, diesel prices stood at Rs 68.34 a litre in Delhi, Rs 72.76 a litre in Mumbai, Rs 70.89 a litre in Kolkata and Rs. 72.14 in Chennai respectively.&nbsp;</p>


Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday. This is the fourth petrol price high in as many days

Petrol prices were recorded at Rs 77.47/litre in Delhi on Thursday morning while for Mumbai it stood at Rs 85.29/litre. In Delhi, the price of diesel was registered at Rs 68.53/litre and at Rs 72.96/litre for Mumbai. As per the Indian Oil Corporation Limited, petrol prices in Kolkata and Chennai were recorded at Rs 80.12 and Rs 80.42 per litre respectively; diesel prices for both the metro cities were registered at Rs 71.08 and Rs 72.35 a litre respectively. Date Delhi Mumbai Kolkata Chennai May 23 77.17 84.99 79.83 80.11 May 22 76.87 84.70 79.53 79.79 May 21 76.57 84.40 79.24 79.47 May 20 76.24 84.07 78.91 79.13 This is the fourth record high for petrol prices in the last four days. Petrol in Delhi was selling at Rs 77.17 a litre on Wednesday, Rs 76.87 a litre on Tuesday, and at Rs 76.57 and Rs 76.24 on Monday and Sunday respectively. Prices of petrol in Delhi at Rs 77.47/litre and Mumbai at Rs 85.29/litre. In Delhi price of Diesel is at Rs 68.53/litre and Mumbai at Rs 72.96/litre. — ANI (@ANI) May 24, 2018 × According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever on Wednesday while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre. On Wednesday, diesel prices stood at Rs 68.34 a litre in Delhi, Rs 72.76 a litre in Mumbai, Rs 70.89 a litre in Kolkata and Rs. 72.14 in Chennai respectively.

Petrol, diesel prices continue to soar, hit another new high

<p>Commuters continue to bear the brunt of soaring petrol and diesel prices with costs hitting a new high today. According to reports, petrol price&nbsp;in Delhi crossed Rs 77 per litre for the first time ever today while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre.&nbsp;</p>

<p>Petrol costs on Wednesday morning were registered at Rs 77.17 a litre in Delhi, Rs 84.99 per litre in Mumbai, Rs 79.83 in Kolkata, and Rs 80.11 per litre in Chennai. Diesel prices stood at Rs 68.34 a litre, Rs 72.76 a litre, Rs 70.89 a litre and Rs. 72.14 a litre respectively.&nbsp;</p>

<p>This is the third record high in three days. Petrol was selling at Rs 76.87 a litre on Tuesday, and at Rs 76.57 and 76.24 on Monday and Sunday respectively.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Petrol prices in Delhi at Rs 77.17/litre and Mumbai at Rs 84.99/litre, Diesel prices at Rs 68.34/litre in Delhi and Rs 72.76/litre in Mumbai.</p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/999158109858775040?ref_src=twsrc%5Etfw">May 23, 2018</a></blockquote>
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<p>Petrol and diesel price hike spilt into its tenth day on Tuesday in some of the major cities including Delhi, Mumbai, Kolkata and Chennai.</p>

<p>In most cases, the rise in petrol prices ranged between 14-34 paise a litre and 21-31 paise a litre for diesel.</p>

<p>The spike in global crude oil prices fuelled by US President Donald Trump’s decision to withdraw from the Iran nuclear deal is seen as the biggest perpetrators of escalating oil prices in countries across the globe.&nbsp;</p>

<p>Political and economic turmoil in Venezuela, a major petroleum exporting country, could also be put to blame.&nbsp;</p>

<p>Meanwhile, Congress leader and former Union Finance Minister P Chidambaram slammed the Modi government for the ongoing rise in petrol and diesel prices. Chidambaram claimed that the rates can easily be reduced by Rs 25 per litre.</p>

<p>(<em>With inputs from agencies</em>)&nbsp;<br />
&nbsp;</p>


Petrol costs on Wednesday morning were registered at Rs 77.17 a litre in Delhi, Rs 84.99 per litre in Mumbai, Rs 79.83 in Kolkata, and Rs 80.11 per litre in Chennai

Commuters continue to bear the brunt of soaring petrol and diesel prices with costs hitting a new high today. According to reports, petrol price in Delhi crossed Rs 77 per litre for the first time ever today while in Mumbai, the petrol price amounted to 1 paise short of Rs 85 per litre. Petrol costs on Wednesday morning were registered at Rs 77.17 a litre in Delhi, Rs 84.99 per litre in Mumbai, Rs 79.83 in Kolkata, and Rs 80.11 per litre in Chennai. Diesel prices stood at Rs 68.34 a litre, Rs 72.76 a litre, Rs 70.89 a litre and Rs. 72.14 a litre respectively. This is the third record high in three days. Petrol was selling at Rs 76.87 a litre on Tuesday, and at Rs 76.57 and 76.24 on Monday and Sunday respectively. Petrol prices in Delhi at Rs 77.17/litre and Mumbai at Rs 84.99/litre, Diesel prices at Rs 68.34/litre in Delhi and Rs 72.76/litre in Mumbai. — ANI (@ANI) May 23, 2018 × Petrol and diesel price hike spilt into its tenth day on Tuesday in some of the major cities including Delhi, Mumbai, Kolkata and Chennai. In most cases, the rise in petrol prices ranged between 14-34 paise a litre and 21-31 paise a litre for diesel. The spike in global crude oil prices fuelled by US President Donald Trump’s decision to withdraw from the Iran nuclear deal is seen as the biggest perpetrators of escalating oil prices in countries across the globe. Political and economic turmoil in Venezuela, a major petroleum exporting country, could also be put to blame. Meanwhile, Congress leader and former Union Finance Minister P Chidambaram slammed the Modi government for the ongoing rise in petrol and diesel prices. Chidambaram claimed that the rates can easily be reduced by Rs 25 per litre. (With inputs from agencies)

Petrol, diesel prices hit new highs; third in 3 days

<p>India will take a long-term view on the retail pricing of petrol and diesel to shield consumers from volatility in global markets, the government said on Wednesday, suggesting it could change the way pump prices are calculated.</p>

<p>Prices of diesel and petrol in India have surged to a record high, stoking opposition criticism of Prime Minister Narendra Modi's administration for causing hardship to ordinary people.</p>

<p>Rising global crude prices are largely behind the surge, but fuel is also heavily taxed by India's state and federal authorities, accounting for about half the cost of petrol and 40 per cent of the diesel price. In Delhi, petrol costs 77.17 rupees&nbspa litre and diesel costs 68.34 rupees a litre.</p>

<p>"The government is keen that instead of having an ad hoc measure it may be desirable to have a long-term view which addresses not only the volatility but also takes care of the unnecessary ambiguity arising out of frequent ups and downs," Law Minister Ravi Shankar Prasad told a news conference.</p>

<p>India is particularly at risk from stronger global prices for crude oil as it is the No.3 importer of the commodity buying about 80 percent of its oil needs. India&nbsphas a surplus of refined products, but local prices of petrol and diesel are linked to Singapore gasoline prices and Arab Gulf diesel prices.</p>

<p>The pump price of the two locally-refined fuels also include import tax on the two products which the government could tinker with to help customers, industry sources say.</p>

<p>M. K. Surana, chairman of state-run fuel retailer and refiner Hindustan Petroleum Corp, said the government should review taxation of petrol and diesel to provide relief to the customer.</p>

<p>"The long term solution is to bring all the petroleum products under goods and service tax that will rationalise the taxation structure," he added.</p>

<p>Opposition leaders have criticised the government for failing to rein in rising fuel prices, a politically-sensitive issue in one of the world's biggest economies.</p>

<p>Rising pump prices are already adding to inflationary pressure and are strengthening the case for a rate hike.</p>

<p>India's Economic Survey, issued by the finance ministry at the end of January, estimated a $10 per barrel rise in global oil prices reduced growth by 0.2-0.3 percentage points, increased wholesale price inflation by about 1.7 percentage points and worsens the current account deficit by about $9-10 billion.</p>

<p>Former finance minister P. Chidambaram of the opposition Congress Party tweeted that there was space to reduce petrol prices by about 25 rupees a litre.</p>

<p>"Fuel price hike has a cascading effect on inflation and the Reserve Bank of India will have to front-load interest rate hikes now," said Rupa Rege Nitsure, group chief economist at L&T Finance Holdings in Mumbai.</p>


Rising pump prices are already adding to inflationary pressure and are strengthening the case for a rate hike.

India will take a long-term view on the retail pricing of petrol and diesel to shield consumers from volatility in global markets, the government said on Wednesday, suggesting it could change the way pump prices are calculated. Prices of diesel and petrol in India have surged to a record high, stoking opposition criticism of Prime Minister Narendra Modi's administration for causing hardship to ordinary people. Rising global crude prices are largely behind the surge, but fuel is also heavily taxed by India's state and federal authorities, accounting for about half the cost of petrol and 40 per cent of the diesel price. In Delhi, petrol costs 77.17 rupees&nbspa litre and diesel costs 68.34 rupees a litre. "The government is keen that instead of having an ad hoc measure it may be desirable to have a long-term view which addresses not only the volatility but also takes care of the unnecessary ambiguity arising out of frequent ups and downs," Law Minister Ravi Shankar Prasad told a news conference. India is particularly at risk from stronger global prices for crude oil as it is the No.3 importer of the commodity buying about 80 percent of its oil needs. India&nbsphas a surplus of refined products, but local prices of petrol and diesel are linked to Singapore gasoline prices and Arab Gulf diesel prices. The pump price of the two locally-refined fuels also include import tax on the two products which the government could tinker with to help customers, industry sources say. M. K. Surana, chairman of state-run fuel retailer and refiner Hindustan Petroleum Corp, said the government should review taxation of petrol and diesel to provide relief to the customer. "The long term solution is to bring all the petroleum products under goods and service tax that will rationalise the taxation structure," he added. Opposition leaders have criticised the government for failing to rein in rising fuel prices, a politically-sensitive issue in one of the world's biggest economies. Rising pump prices are already adding to inflationary pressure and are strengthening the case for a rate hike. India's Economic Survey, issued by the finance ministry at the end of January, estimated a $10 per barrel rise in global oil prices reduced growth by 0.2-0.3 percentage points, increased wholesale price inflation by about 1.7 percentage points and worsens the current account deficit by about $9-10 billion. Former finance minister P. Chidambaram of the opposition Congress Party tweeted that there was space to reduce petrol prices by about 25 rupees a litre. "Fuel price hike has a cascading effect on inflation and the Reserve Bank of India will have to front-load interest rate hikes now," said Rupa Rege Nitsure, group chief economist at L&T Finance Holdings in Mumbai.

Government keen take long-term view on petrol prices: Ravi Shankar Prasad

<p>With record fuel prices creating a "crisis situation", the government will work on an appropriate solution to ease the burden on common man, top officials said.</p>

<p>While Oil Minister Dharmendra Pradhan stated that he has aired concerns about high oil prices, a senior official said the government will come out with "some steps" this week to deal with record high petrol and diesel rates.</p>

<p>"I have loudly spoken about concerns (about high oil prices)," Pradhan said, adding that "appropriate steps" will be taken. He did not elaborate.&nbsp</p>

<p>Indian Oil Corp (IOC) Chairman Sanjiv Singh said there is no direction from the government for moderating prices and the three week hiatus before the Karnataka poll was to avoid sharp spike in retail rates.</p>

<p>"We believed that fundamentals did not support such sharp spikes witnessed so we decided to moderate prices," he told press conference on the fourth quarter earnings.</p>

<p>Asked what changed their mind, he said fuel retailing runs on narrow margins and no company can continue to sell at below cost for long.</p>

<p>The government may not rely only on cutting excise duty, which makes up for a fourth of the retail selling price, said the official cited earlier, but he too did not elaborate on the various steps being considered.</p>

<p>"Rising fuel price is a crisis situation for government and it has to be handled with combination of steps. Finance ministry is consulting the petroleum ministry on rising crude prices," he said.&nbsp</p>

<p>More than a week after the state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs. Petrol costs Rs 76.87 per litre in Delhi and diesel costs Rs 68.08 a litre. In last nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15.</p>

<p>Rates vary from state to state depending on the incidence of local sales tax or VAT. The prices in Delhi are the cheapest among all metros and most state capitals.</p>

<p>The official said the government has to be mindful of its fiscal maths while dealing with the option of cutting excise duty.</p>

<p>"We cannot rely on excise duty cut alone, although I am not ruling out a possibility of cutting excise duty. We have to be mindful of any fiscal impact of any excise cut on fuel," the official said.</p>

<p>Both the Centre and states, where VAT makes up for 20-35 per cent of the retail cost and have gained from the rising oil prices, need to take measures, he said.</p>

<p>"Some steps to deal with rising oil prices are likely to come this week," he added.</p>

<p>The rupee, which has fallen to 16-month low of 67.97 against the US dollar, is also playing a role in high oil bill, he said.</p>

<p>IOC Chairman said the companies have freedom to revive prices and they took a call in the best interest of consumers.</p>

<p>The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel. State sales tax or VAT varies from state to state. Unlike excise duty, VAT is ad valorem and results in higher revenues for the state when rates move up.&nbsp</p>

<p>In Delhi, VAT on petrol was Rs 15.84 a litre, and Rs 9.68 on diesel in April. Today it is Rs 16.34 on petrol and Rs 10.02 a litre on diesel.&nbsp</p>

<p>Every rupee cut in excise duty on petrol and diesel will result in a revenue loss of Rs 13,000 crore.</p>

<p>The government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.&nbsp</p>

<p>Subsequent to that excise duty reduction, the Centre had asked states to also lower VAT. Just four of them -- Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh -- reduced rates while others including BJP-ruled ones ignored the call.</p>

<p>In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.&nbsp</p>


In last nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15

With record fuel prices creating a "crisis situation", the government will work on an appropriate solution to ease the burden on common man, top officials said. While Oil Minister Dharmendra Pradhan stated that he has aired concerns about high oil prices, a senior official said the government will come out with "some steps" this week to deal with record high petrol and diesel rates. "I have loudly spoken about concerns (about high oil prices)," Pradhan said, adding that "appropriate steps" will be taken. He did not elaborate. Indian Oil Corp (IOC) Chairman Sanjiv Singh said there is no direction from the government for moderating prices and the three week hiatus before the Karnataka poll was to avoid sharp spike in retail rates. "We believed that fundamentals did not support such sharp spikes witnessed so we decided to moderate prices," he told press conference on the fourth quarter earnings. Asked what changed their mind, he said fuel retailing runs on narrow margins and no company can continue to sell at below cost for long. The government may not rely only on cutting excise duty, which makes up for a fourth of the retail selling price, said the official cited earlier, but he too did not elaborate on the various steps being considered. "Rising fuel price is a crisis situation for government and it has to be handled with combination of steps. Finance ministry is consulting the petroleum ministry on rising crude prices," he said. More than a week after the state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs. Petrol costs Rs 76.87 per litre in Delhi and diesel costs Rs 68.08 a litre. In last nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15. Rates vary from state to state depending on the incidence of local sales tax or VAT. The prices in Delhi are the cheapest among all metros and most state capitals. The official said the government has to be mindful of its fiscal maths while dealing with the option of cutting excise duty. "We cannot rely on excise duty cut alone, although I am not ruling out a possibility of cutting excise duty. We have to be mindful of any fiscal impact of any excise cut on fuel," the official said. Both the Centre and states, where VAT makes up for 20-35 per cent of the retail cost and have gained from the rising oil prices, need to take measures, he said. "Some steps to deal with rising oil prices are likely to come this week," he added. The rupee, which has fallen to 16-month low of 67.97 against the US dollar, is also playing a role in high oil bill, he said. IOC Chairman said the companies have freedom to revive prices and they took a call in the best interest of consumers. The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel. State sales tax or VAT varies from state to state. Unlike excise duty, VAT is ad valorem and results in higher revenues for the state when rates move up. In Delhi, VAT on petrol was Rs 15.84 a litre, and Rs 9.68 on diesel in April. Today it is Rs 16.34 on petrol and Rs 10.02 a litre on diesel. Every rupee cut in excise duty on petrol and diesel will result in a revenue loss of Rs 13,000 crore. The government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre. Subsequent to that excise duty reduction, the Centre had asked states to also lower VAT. Just four of them -- Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh -- reduced rates while others including BJP-ruled ones ignored the call. In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.

Steps to deal with rising petrol, diesel prices likely this week: Official

<p>Prices of petrol and diesel were hiked for the ninth time in 9 days on Tuesday.&nbsp</p>

<p>Petrol is now selling at Rs 76.87 a litre in Delhi, the highest ever since September 2013.&nbsp</p>

<p>Petrol was on Monday and Sunday selling at Rs 76.57 and 76.24 respectively — both of which were record highs until they were broken the following day.&nbsp</p>

<p>In Mumbai meanwhile, petrol is selling at Rs 84.70 — another record high.&nbsp</p>

<p>News reports said Tuesday that Petroleum Minister Dharmendra Pradhan may meet oil companies today. Pradhan had on Sunday hinted at a tax cut, saying the Centre was "sensitive" about "rising fuel prices". That alternatives were being explored and that he hoped something would "work out soon".&nbsp&nbsp</p>

<p>Pradhan had not given out any more details.&nbsp</p>

<p>But should he be looking at a&nbspprice cut, the only two options he has is a reduction in excise duty or asking the oil companies to hold off on any further price hikes and bear the losses themselves.&nbsp<br />
&nbsp</p>


News reports quoting unnamed sources said Tuesday that Petroleum Minister Dharmendra Pradhan may meet with oil companies today. He had on Sunday said the Centre was 'sensitive' about 'rising fuel prices'

Prices of petrol and diesel were hiked for the ninth time in 9 days on Tuesday. Petrol is now selling at Rs 76.87 a litre in Delhi, the highest ever since September 2013. Petrol was on Monday and Sunday selling at Rs 76.57 and 76.24 respectively — both of which were record highs until they were broken the following day. In Mumbai meanwhile, petrol is selling at Rs 84.70 — another record high. News reports said Tuesday that Petroleum Minister Dharmendra Pradhan may meet oil companies today. Pradhan had on Sunday hinted at a tax cut, saying the Centre was "sensitive" about "rising fuel prices". That alternatives were being explored and that he hoped something would "work out soon". Pradhan had not given out any more details. But should he be looking at a&nbspprice cut, the only two options he has is a reduction in excise duty or asking the oil companies to hold off on any further price hikes and bear the losses themselves.

Petrol, diesel prices hiked for 9th time in 9 days

<p>As fuel prices hit record highs, the government may be mulling a tax cut.&nbsp</p>

<p>Petrol was selling in Delhi on Sunday at <a href="http://www.wionews.com/india-news/petrol-diesel-prices-hit-record-highs-in-delhi-138381">Rs 76.24 a litre</a>, the highest ever since September 14, 2013.&nbsp</p>

<p>On Monday, prices climbed even higher to Rs 76.57 a litre.&nbsp</p>

<p>This is the eighth straight day fuel prices have risen.&nbsp</p>

<p>Oil retailers had frozen prices on April 24 — after being nudged by the government to do so&nbsp<span style="display: none">&nbsp</span><span style="display: none">&nbsp</span>— as Karnataka went to the polls.&nbsp</p>

<p>The freeze was lifted on May 14, two days after the elections.&nbsp</p>

<p>The retailers are now trying to catch up with global oil prices.&nbsp</p>

<p>On Sunday however, Oil Minister Dharmendra Pradhan said in Bhubaneshwar that the Centre was "sensitive" about "rising fuel prices". That alternatives were being explored and that he hoped something would "work out soon".&nbsp</p>

<p>That, news reports said Monday, indicated the government may be thinking about a tax cut.&nbsp</p>

<p>Pradhan has so far&nbspruled out an excise cut, saying the price rise is temporary. He has blamed the price rise on OPEC's decision to cut production, US sanctions on Iran, and the <a href="http://www.wionews.com/world/venezuela-maduro-wins-presidential-vote-138497">instability in Venezuela</a>.&nbsp</p>

<p>He has instead urged states to cut VAT and bring fuels under the GST regime.&nbsp</p>

<p>But the minister's statement on Sunday, the reports said, indicates a rethink by the government in order to avoid the public outcry getting any louder.<br />
&nbsp</p>


Oil Minister Dharmendra Pradhan said on Sunday that the Centre was 'sensitive' about 'rising fuel prices'. That alternatives were being explored and that he hoped something would 'work out soon'

As fuel prices hit record highs, the government may be mulling a tax cut. Petrol was selling in Delhi on Sunday at Rs 76.24 a litre, the highest ever since September 14, 2013. On Monday, prices climbed even higher to Rs 76.57 a litre. This is the eighth straight day fuel prices have risen. Oil retailers had frozen prices on April 24 — after being nudged by the government to do so — as Karnataka went to the polls. The freeze was lifted on May 14, two days after the elections. The retailers are now trying to catch up with global oil prices. On Sunday however, Oil Minister Dharmendra Pradhan said in Bhubaneshwar that the Centre was "sensitive" about "rising fuel prices". That alternatives were being explored and that he hoped something would "work out soon". That, news reports said Monday, indicated the government may be thinking about a tax cut. Pradhan has so far&nbspruled out an excise cut, saying the price rise is temporary. He has blamed the price rise on OPEC's decision to cut production, US sanctions on Iran, and the instability in Venezuela. He has instead urged states to cut VAT and bring fuels under the GST regime. But the minister's statement on Sunday, the reports said, indicates a rethink by the government in order to avoid the public outcry getting any louder.

As fuel prices hit record highs, government may be mulling a tax cut

<p>Petrol price on Sunday touched a record high of Rs 76.24 per litre and diesel climbed to its highest ever level of Rs 67.57 as the oil public sector undertakings (PSUs) passed on four weeks of relentless rise in international oil prices to consumers.&nbsp</p>

<p>Petrol price today increased by 33 paisa a litre in Delhi —the highest since the daily price revision came into force in mid-June 2017, and diesel by 26 paisa, according to price notification issued by state-owned oil firms.</p>

<p>Rates vary from state to state depending on the incidence of local sales tax or value-added tax (VAT). Prices in Delhi are the cheapest in all metros and most state capitals.</p>

<p>With this increase, petrol has touched an all-time-high, breaching the previous high of Rs 76.06 touched in Delhi on September 14, 2013. Diesel rates are also at the all-time high level.</p>

<p>This is the seventh straight day of price increase since oil PSUs on May 14 resumed daily price revision after a 19-day pre-Karnataka poll hiatus. In all, petrol price has been raised by Rs 1.61 a litre and diesel by 1.64 in last one week.</p>

<p>In India, petrol is the costliest in Mumbai where high local taxes have led a price of Rs 84.07 per litre. Petrol has breached Rs 80 mark in Bhopal (Rs 81.83 a litre), Patna (Rs 81.73), Hyderabad (Rs 80.76) and Srinagar (Rs 80.35), according to the price notification.</p>

<p>Petrol in Kolkatta costs Rs 78.91 per litre while it is priced at Rs 79.13 in Chennai.</p>

<p>On Friday, Economic Affairs Secretary Subhash Chandra Garg refused to say if the government will cut excise duty on auto fuel to ease the burden on consumers.</p>

<p>The government is watching the situation developing from oil prices hitting $80 a barrel -- the highest since November 2014, and adequate steps will be taken, is all he said without elaborating.</p>

<p>Oil PSUs are estimated to have lost about Rs 5 billion (Rs 500 crore) on absorbing higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar during the nearly three-week hiatus.</p>


This is the seventh straight day of petrol price increase since oil PSUs on May 14 resumed daily price revision after a 19-day pre-Karnataka poll hiatus.

Petrol price on Sunday touched a record high of Rs 76.24 per litre and diesel climbed to its highest ever level of Rs 67.57 as the oil public sector undertakings (PSUs) passed on four weeks of relentless rise in international oil prices to consumers. Petrol price today increased by 33 paisa a litre in Delhi —the highest since the daily price revision came into force in mid-June 2017, and diesel by 26 paisa, according to price notification issued by state-owned oil firms. Rates vary from state to state depending on the incidence of local sales tax or value-added tax (VAT). Prices in Delhi are the cheapest in all metros and most state capitals. With this increase, petrol has touched an all-time-high, breaching the previous high of Rs 76.06 touched in Delhi on September 14, 2013. Diesel rates are also at the all-time high level. This is the seventh straight day of price increase since oil PSUs on May 14 resumed daily price revision after a 19-day pre-Karnataka poll hiatus. In all, petrol price has been raised by Rs 1.61 a litre and diesel by 1.64 in last one week. In India, petrol is the costliest in Mumbai where high local taxes have led a price of Rs 84.07 per litre. Petrol has breached Rs 80 mark in Bhopal (Rs 81.83 a litre), Patna (Rs 81.73), Hyderabad (Rs 80.76) and Srinagar (Rs 80.35), according to the price notification. Petrol in Kolkatta costs Rs 78.91 per litre while it is priced at Rs 79.13 in Chennai. On Friday, Economic Affairs Secretary Subhash Chandra Garg refused to say if the government will cut excise duty on auto fuel to ease the burden on consumers. The government is watching the situation developing from oil prices hitting $80 a barrel -- the highest since November 2014, and adequate steps will be taken, is all he said without elaborating. Oil PSUs are estimated to have lost about Rs 5 billion (Rs 500 crore) on absorbing higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar during the nearly three-week hiatus.

Petrol prices now above Rs 84/litre in Mumbai, Rs 76 in Delhi

<p>The prices of diesel and petrol hit their highest-ever level on Sunday.&nbsp;</p>

<p>Petrol is selling at Rs 76.24 a litre in Delhi, while diesel is selling at Rs 67.57.&nbsp;</p>

<p>The previous petrol price high was Rs 76.06 on September 14, 2013.&nbsp;</p>

<p>Petrol is selling at Rs 84.07 in Mumbai. And at Rs 78.91 and Rs 79.13 in Kolkata and Chennai.&nbsp;</p>

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<p dir="ltr" lang="en">As prices of petrol touch Rs 84.07/litre in Mumbai, locals say 'Why are prices so high in Mumbai when it is comparatively lower in Gujarat & Delhi? It is tough for those who have to travel everyday. We shell out Rs 120 for petrol regularly.' <a href="https://t.co/E9BwoFRm5M">pic.twitter.com/E9BwoFRm5M</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/998116306791608320?ref_src=twsrc%5Etfw">May 20, 2018</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">Locals in Delhi say 'The govt must bring down prices of petrol. They must reduce excise duty & use other measures. The prices are already so high'. Prices of petrol in Delhi touched Rs 76.24/litre. <a href="https://t.co/4kdxnMTzDh">pic.twitter.com/4kdxnMTzDh</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/998123481614217216?ref_src=twsrc%5Etfw">May 20, 2018</a></blockquote>
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<p>Diesel meanwhile is selling at 71.94, Rs 70.12, and Rs 71.32 a litre in Mumbai, Kolkata and Chennai. respectively.</p>


Petrol is selling at Rs 76.24 a litre in Delhi, while diesel is selling at Rs 67.57

The prices of diesel and petrol hit their highest-ever level on Sunday. Petrol is selling at Rs 76.24 a litre in Delhi, while diesel is selling at Rs 67.57. The previous petrol price high was Rs 76.06 on September 14, 2013. Petrol is selling at Rs 84.07 in Mumbai. And at Rs 78.91 and Rs 79.13 in Kolkata and Chennai. As prices of petrol touch Rs 84.07/litre in Mumbai, locals say 'Why are prices so high in Mumbai when it is comparatively lower in Gujarat & Delhi? It is tough for those who have to travel everyday. We shell out Rs 120 for petrol regularly.' pic.twitter.com/E9BwoFRm5M — ANI (@ANI) May 20, 2018 × Locals in Delhi say 'The govt must bring down prices of petrol. They must reduce excise duty & use other measures. The prices are already so high'. Prices of petrol in Delhi touched Rs 76.24/litre. pic.twitter.com/4kdxnMTzDh — ANI (@ANI) May 20, 2018 × Diesel meanwhile is selling at 71.94, Rs 70.12, and Rs 71.32 a litre in Mumbai, Kolkata and Chennai. respectively.

Petrol, diesel prices hit record highs in Delhi

<p>The petrol and diesel prices continue to increase for the second consecutive day on Tuesday by 15 paise a litre and diesel by 23 paise a litre.&nbsp;</p>

<p>That marked a second increase in petrol and diesel rates this month. On May 14, the prices were raised after a 19-day hiatus, a day before Karnataka election results.</p>

<p>With the increased prices on Tuesday, petrol price in Delhi is at a fresh 56-month peak and the price of diesel has registered a new all-time high.&nbsp;</p>

<p>As on 6:00 am on May 15, petrol retailed at Rs. 74.95 per litre in Delhi, Rs. 77.65 per litre in Kolkata, Rs. 82.79 per litre in Mumbai and Rs. 77.77 per litre in Chennai, according to Indian Oil Corporation. Diesel prices were at Rs. 66.36 per litre, Rs. 68.9 per litre, Rs. 70.66 per litre and Rs. 70.02 per litre respectively.&nbsp;</p>

<p>After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers.</p>

<p>Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies.</p>

<p>Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government on Saturday.</p>

<p>State-owned oil marketing companies are estimated to have lost about Rs 500 crore as they absorbed higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar.</p>


That marked a second increase in petrol and diesel rates this month. On May 14, the prices were raised after a 19-day hiatus, a day before Karnataka election results

The petrol and diesel prices continue to increase for the second consecutive day on Tuesday by 15 paise a litre and diesel by 23 paise a litre. That marked a second increase in petrol and diesel rates this month. On May 14, the prices were raised after a 19-day hiatus, a day before Karnataka election results. With the increased prices on Tuesday, petrol price in Delhi is at a fresh 56-month peak and the price of diesel has registered a new all-time high. As on 6:00 am on May 15, petrol retailed at Rs. 74.95 per litre in Delhi, Rs. 77.65 per litre in Kolkata, Rs. 82.79 per litre in Mumbai and Rs. 77.77 per litre in Chennai, according to Indian Oil Corporation. Diesel prices were at Rs. 66.36 per litre, Rs. 68.9 per litre, Rs. 70.66 per litre and Rs. 70.02 per litre respectively. After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers. Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies. Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government on Saturday. State-owned oil marketing companies are estimated to have lost about Rs 500 crore as they absorbed higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar.

On Karnataka results day, government hikes petrol, diesel prices again

<p>After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers.</p>

<p>Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies.</p>

<p>With this, diesel prices have touched a record high while petrol is at a 56-month peak.</p>

<p>Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government on Saturday.</p>

<p>State-owned oil marketing companies are estimated to have lost about Rs 500 crore as they absorbed higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar.</p>

<p>Oil PSUs, which have been since June last year revising auto fuel prices on a daily basis to reflect changes in the cost, have kept pump rates static since April 24, an analysis of daily price notification issued by oil companies showed.</p>

<p>Oil PSUs have refused to acknowledge if the freeze followed a government diktat so as to help ruling BJP in Karnataka.</p>

<p>Indian Oil Corp (IOC) Chairman Sanjiv Singh last week said that the state-owned firms were "temporarily moderating" prices to avoid sharp spikes and panic among consumers.</p>

<p>Petrol and diesel prices were last revised on April 24 when they were hiked by 13 paise each. But prices were frozen thereafter. This despite benchmark international rate for petrol going up from USD 78.84 per barrel, which was used for raising the price to Rs 74.63 a litre on April 24, to USD 82.98 now, according to sources privy to fuel pricing methodology.</p>

<p>The benchmark international diesel rates during this period have climbed from USD 84.68 per barrel to USD 88.63. Also, the rupee has weakened to Rs 67 per US dollar from Rs 66.62, making imports costlier.</p>

<p>Oil Minister Dharmendra Pradhan had last month denied reports of a directive to state oil firms to absorb at least Re 1 a litre hike by not raising prices in line with cost.</p>

<p>The prices at petrol pumps of state-owned fuel retailers like Indian Oil Corp (IOC) were cut by 1-3 paise every day in the first fortnight of December 2017 before Gujarat went to polls.</p>

<p>They started moving up immediately after polling for assembly elections in Gujarat concluded on December 14, leading to speculation that government may have asked oil companies to hold the prices.</p>

<p>State-owned oil companies in June last year dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost.</p>

<p>If this practice was followed in letter and spirit, petrol and diesel prices should have been increased by Rs 1.5 a litre in last 19 days, an analyst tracking the sector said.</p>

<p>The government had in June 2010 freed petrol price from its control and the diesel rates were deregulated in October 2014. Prices have since then moved more or less in tandem with international rates barring a few exceptions like the period before a crucial election.</p>

<p>Finance Secretary Hasmukh Adhia and Economic Affairs Secretary Subhash Garg have in the past weeks ruled out any immediate reduction in excise duty to cushion the increases warranted from a spike in international oil price.</p>

<p>The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.</p>

<p>The government had between November 2014 and January 2016 raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 per litre to take away gains arising from plummeting global oil prices. This led to its excise mop up more than doubling to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.</p>

<p>The central government had cut excise duty by Rs 2 per litre in October 2017, when petrol price reached Rs 70.88 per litre in Delhi and diesel Rs 59.14. Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.89 per litre and petrol to Rs 68.38 per litre.</p>

<p>However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.</p>


Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies.

After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers. Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65.93, according to a price notification issued by state-owned oil marketing companies. With this, diesel prices have touched a record high while petrol is at a 56-month peak. Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices no sooner had the state voted to elect a new government on Saturday. State-owned oil marketing companies are estimated to have lost about Rs 500 crore as they absorbed higher cost resulting from the spike in international oil rates and fall in rupee against the US dollar. Oil PSUs, which have been since June last year revising auto fuel prices on a daily basis to reflect changes in the cost, have kept pump rates static since April 24, an analysis of daily price notification issued by oil companies showed. Oil PSUs have refused to acknowledge if the freeze followed a government diktat so as to help ruling BJP in Karnataka. Indian Oil Corp (IOC) Chairman Sanjiv Singh last week said that the state-owned firms were "temporarily moderating" prices to avoid sharp spikes and panic among consumers. Petrol and diesel prices were last revised on April 24 when they were hiked by 13 paise each. But prices were frozen thereafter. This despite benchmark international rate for petrol going up from USD 78.84 per barrel, which was used for raising the price to Rs 74.63 a litre on April 24, to USD 82.98 now, according to sources privy to fuel pricing methodology. The benchmark international diesel rates during this period have climbed from USD 84.68 per barrel to USD 88.63. Also, the rupee has weakened to Rs 67 per US dollar from Rs 66.62, making imports costlier. Oil Minister Dharmendra Pradhan had last month denied reports of a directive to state oil firms to absorb at least Re 1 a litre hike by not raising prices in line with cost. The prices at petrol pumps of state-owned fuel retailers like Indian Oil Corp (IOC) were cut by 1-3 paise every day in the first fortnight of December 2017 before Gujarat went to polls. They started moving up immediately after polling for assembly elections in Gujarat concluded on December 14, leading to speculation that government may have asked oil companies to hold the prices. State-owned oil companies in June last year dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. If this practice was followed in letter and spirit, petrol and diesel prices should have been increased by Rs 1.5 a litre in last 19 days, an analyst tracking the sector said. The government had in June 2010 freed petrol price from its control and the diesel rates were deregulated in October 2014. Prices have since then moved more or less in tandem with international rates barring a few exceptions like the period before a crucial election. Finance Secretary Hasmukh Adhia and Economic Affairs Secretary Subhash Garg have in the past weeks ruled out any immediate reduction in excise duty to cushion the increases warranted from a spike in international oil price. The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre. The government had between November 2014 and January 2016 raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 per litre to take away gains arising from plummeting global oil prices. This led to its excise mop up more than doubling to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. The central government had cut excise duty by Rs 2 per litre in October 2017, when petrol price reached Rs 70.88 per litre in Delhi and diesel Rs 59.14. Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.89 per litre and petrol to Rs 68.38 per litre. However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.

Karnataka elections done, fuel prices hiked

<p>Protesting against the high petrol and fuel prices, Congress President Rahul Gandhi today rode a bicycle as he led a march on the issue while campaigning in Karnataka's Kolar district.</p>

<p>Later, standing on a bullock cart, he addressed a gathering where he alleged that the BJP-led government wanted to take money from the common man to give it to its "rich friends" and asked it to tell the people why they were not reducing the price of petrol in the country.</p>

<p>Gandhi, who resumed his poll campaign for the May 12 assembly polls, took out a protest march in Maluru in Kolar against rising petrol prices by riding a bicycle with other Congress workers walking or running behind him.</p>

<p>The world over petrol prices were decreasing, but in India prices were still high, he lamented.</p>

<p>"Earlier in international market, the price was USD 140 per barrel, now it is USD 70 per barrel. So lakhs of crores of money is being saved by the government. Where is the money going?" Gandhi asked.</p>

<p>"Why are you not saying to people that you don't want to put GST on petrol and diesel? You want to take away money from common man and want to give it to your five or ten industrialist friends," he said before the gathering.</p>

<p>"You want to take money from the pockets of those driving scooter, truck, bus and other vehicles in the country and want to give it your rich friends," the Congress leader said.</p>

<p>During his three-day visit, Gandhi will be campaigning in Kolar, Bengaluru Rural, Chikkballapura, Tumakuru districts and Bengaluru city. PTI&nbsp;</p>


The Congress President alleged the BJP-led government wanted to take money from the common man to give it to its 'rich friends'. Rahul was campaigning in Karnataka, which goes to the polls on May 12

Protesting against the high petrol and fuel prices, Congress President Rahul Gandhi today rode a bicycle as he led a march on the issue while campaigning in Karnataka's Kolar district. Later, standing on a bullock cart, he addressed a gathering where he alleged that the BJP-led government wanted to take money from the common man to give it to its "rich friends" and asked it to tell the people why they were not reducing the price of petrol in the country. Gandhi, who resumed his poll campaign for the May 12 assembly polls, took out a protest march in Maluru in Kolar against rising petrol prices by riding a bicycle with other Congress workers walking or running behind him. The world over petrol prices were decreasing, but in India prices were still high, he lamented. "Earlier in international market, the price was USD 140 per barrel, now it is USD 70 per barrel. So lakhs of crores of money is being saved by the government. Where is the money going?" Gandhi asked. "Why are you not saying to people that you don't want to put GST on petrol and diesel? You want to take away money from common man and want to give it to your five or ten industrialist friends," he said before the gathering. "You want to take money from the pockets of those driving scooter, truck, bus and other vehicles in the country and want to give it your rich friends," the Congress leader said. During his three-day visit, Gandhi will be campaigning in Kolar, Bengaluru Rural, Chikkballapura, Tumakuru districts and Bengaluru city. PTI

Watch: Rahul rides cycle in Karnataka to protest fuel prices, gives speech from bullock cart

<p>Petrol price Sunday hit Rs 74.40 a litre - the highest level under the BJP-led government, while diesel rates touched a record high of Rs 65.65, renewing calls for a cut in excise duty to ease the burden on consumers.</p>

<p>State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates by 19 paise per litre each in Delhi, according to a price notification.</p>

<p>The hike necessitated due to firming international oil prices, comes on back of a 13 paise increase in rates of petrol effected Saturday and a 15 paise hike in diesel, it said.</p>

<p>Petrol in the national capital now costs Rs 74.40 a litre, the highest since September 14, 2013, when rates had hit Rs 76.06. Diesel price at Rs 65.65 are the highest ever.</p>

<p>Oil ministry had earlier this year sought a reduction in excise duty on petrol an diesel to cushion the impact rising international oil rates but Finance Minister Arun Jaitley, in his Budget presented on February 1, ignored those calls.</p>

<p>India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.</p>

<p>Jaitley had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.</p>

<p>Subsequent to that excise duty reduction, the Centre had asked states to also lower VAT, but just four of them - Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh - reduced rates while others including BJP-ruled ones ignored the call.</p>

<p>The central government had cut excise duty by Rs 2 per litre in October 2017, when petrol price reached Rs 70.88 per litre in Delhi and diesel Rs. 59.14. Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.89 per litre and petrol to Rs 68.38 per litre.&nbsp</p>

<p>However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.</p>

<p>The October 2017 excise duty cut cost the government Rs 26,000 crore in annual revenue and about Rs 13,000 crore during the remaining part of the current fiscal year.</p>

<p>The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting global oil prices.&nbsp</p>

<p>In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.</p>

<p>State-owned oil companies - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - in June last year dumped the 15-year old practice of revising rates on the 1st and 16th of every month. Instead, they adopted a daily price revision system to instantly reflect changes in cost. Since then prices are revised on a daily basis.&nbsp</p>


State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates by 19 paise per litre each in Delhi, according to a price notification

Petrol price Sunday hit Rs 74.40 a litre - the highest level under the BJP-led government, while diesel rates touched a record high of Rs 65.65, renewing calls for a cut in excise duty to ease the burden on consumers. State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates by 19 paise per litre each in Delhi, according to a price notification. The hike necessitated due to firming international oil prices, comes on back of a 13 paise increase in rates of petrol effected Saturday and a 15 paise hike in diesel, it said. Petrol in the national capital now costs Rs 74.40 a litre, the highest since September 14, 2013, when rates had hit Rs 76.06. Diesel price at Rs 65.65 are the highest ever. Oil ministry had earlier this year sought a reduction in excise duty on petrol an diesel to cushion the impact rising international oil rates but Finance Minister Arun Jaitley, in his Budget presented on February 1, ignored those calls. India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates. Jaitley had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre. Subsequent to that excise duty reduction, the Centre had asked states to also lower VAT, but just four of them - Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh - reduced rates while others including BJP-ruled ones ignored the call. The central government had cut excise duty by Rs 2 per litre in October 2017, when petrol price reached Rs 70.88 per litre in Delhi and diesel Rs. 59.14. Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.89 per litre and petrol to Rs 68.38 per litre. However, a global rally in crude prices pushed domestic fuel prices far higher than those levels. The October 2017 excise duty cut cost the government Rs 26,000 crore in annual revenue and about Rs 13,000 crore during the remaining part of the current fiscal year. The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting global oil prices. In all, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre in those 15 months that helped government's excise mop up more than double to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. State-owned oil companies - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation - in June last year dumped the 15-year old practice of revising rates on the 1st and 16th of every month. Instead, they adopted a daily price revision system to instantly reflect changes in cost. Since then prices are revised on a daily basis.

Petrol price hit highest level under BJP govt, diesel at record peak

<p>Petrol prices rose to 55-month high while diesel became costliest ever. On Friday, petrol increased marginally by 1 paisa and diesel by 4 paise.</p>

<p>Petrol in the national capital, Delhi now costs Rs 74.08 a litre, the highest since September 2013 when rates had hit Rs 76.06. Diesel price at Rs 65.31 is the highest ever.</p>

<p>The rise in petrol and diesel prices is due to rise in the rate of crude oil. India imports more than 80% of its crude oil requirement from the international market. This makes our petrol and diesel price directly proportional to international crude oil prices.</p>

<p>The Oil Ministry had earlier sought a reduction in excise duty on both petrol and diesel to cushion the impact of rising international oil prices. This was however turned down by Finance Minister Arun Jaitley in the budget presented on 1st February.</p>


India imports more than 80% of its crude oil requirement from the international market.

Petrol prices rose to 55-month high while diesel became costliest ever. On Friday, petrol increased marginally by 1 paisa and diesel by 4 paise. Petrol in the national capital, Delhi now costs Rs 74.08 a litre, the highest since September 2013 when rates had hit Rs 76.06. Diesel price at Rs 65.31 is the highest ever. The rise in petrol and diesel prices is due to rise in the rate of crude oil. India imports more than 80% of its crude oil requirement from the international market. This makes our petrol and diesel price directly proportional to international crude oil prices. The Oil Ministry had earlier sought a reduction in excise duty on both petrol and diesel to cushion the impact of rising international oil prices. This was however turned down by Finance Minister Arun Jaitley in the budget presented on 1st February.

Petrol rises to 55-month high, diesel costliest ever

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