Petrol, Diesel Prices Rise For 16th Day

Petrol, Diesel Prices Rise For 16th Day

In line with petrol prices, the other key transportation fuel, diesel prices in Delhi, Kolkata, Mumbai and Chennai, rose to Rs 69.17.

The price of petrol was increased by 15 paise per litre on Monday, taking it beyond Rs 86 in Mumbai. Monday's increase in petrol and diesel prices marked a fifteen straight day of hikes, which followed a 19-day hiatus ahead of Karnataka elections. The recent rise in crude oil cost and the high excise duty levied on the particular fuel type is the reason behind the rise in petrol prices in the country.

The fuel was sold at Rs 78.27 and Rs 81.26 per litre in Delhi and Chennai, up from Rs 78.12 and Rs 81.11 a litre on Sunday. The revised prices are applied at the fuel stations with effect from 6 am every day. Whereas, Mumbai and Chennai saw the most hikes - by as much as Rs 3.59 per litre and Rs 3.62 per litre respectively. Union Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier assured the public that the government will soon take out a solution to tackle the situation. "This is the most plausible scenario under the current circumstances", the report said.

As petrol and diesel are left outside GST, their prices and quantum of increase vary from state to state depending upon local taxes.

Amid the rise in fuel prices, crude oil futures fell 2.73 per cent to Rs 4,485 per barrel on Monday, in line with the weak trend overseas as the market eyed an increase in output from top crude producers - Russia, the USA, and Saudi Arabia.

"However, if this was to happen, the state will have to forego Rs 34,627 crore of tax revenue / 0.2 per cent of consolidated fiscal deficit of states", said Ecowrap.

Oil companies increased the fuel prices for the 15th consecutive day on Monday, even as global prices of crude oil have reduced in the last three days.

RAC fuel spokesman Simon Williams said: "This is the worst series of consecutive daily supermarket price rises we have seen since we began monitoring this three and a half years ago". The opposition parties and people have been demanding a cut in Centre and state tax on fuels.

Related Articles

  • Klay Thompson's 35 Points Helps The Warriors Force A G7!

    Klay Thompson's 35 Points Helps The Warriors Force A G7!

    Houston's big win in Game 5 was tempered by a hamstring injury to star Chris Paul which will keep him out of Saturday's game. The Rockets played well for parts of Game 6 without him, but it's hard to imagine them winning without him on the floor.

    Rockets not optimistic about Chris Paul playing in potential Game 7

    Houston's big win in Game Five was tempered by a hamstring injury to star Chris Paul which will keep him out of Saturday's game. Friday morning, the Rockets announced that Paul will miss Saturday's game at Golden State with a right hamstring strain .
    Madrid not feeling like favourites in final - Zidane

    Madrid not feeling like favourites in final - Zidane

    The 25 years old Egyptian star has scored a stunning 43 goals this term, including 10 in the Champions League. I think it is obvious we are back, " said Klopp.
  • Starbucks closes for bias training:

    Starbucks closes for bias training: "It won't be a rubber stamp"

    Starbucks's apology came with a commitment to "making it right", executive chairman Howard Shultz said after the incident. Most licensed stores, including those operated by hotels, grocery stores and airports, will operate normally.
    'Solo' sputters in takeoff at box office with $83.3M

    'Solo' sputters in takeoff at box office with $83.3M

    A key will be for Lucasfilm to rebuild that cool factor by the time Star Wars: Episode IX is released on December 20, 2019. It's not often - i.e. ever - that you see the words " Star Wars " and "box office bomb" in the same sentence, but...
    Celtics fail to finish off Cavaliers in Game 6, 109-99

    Celtics fail to finish off Cavaliers in Game 6, 109-99

    And he's just one more 40-point playoff game away from tying yet another National Basketball Association record. Overall, the Cavs shot 47.1 percent from the field, including 39.1 percent from beyond the arc.
  • Campaigners celebrate as Ireland votes to scrap abortion laws

    Campaigners celebrate as Ireland votes to scrap abortion laws

    The Irish electorate voted 1,429,981 to 723,632 in favor of repealing the Eighth Amendment of the country's constitution. Many people left floral tributes and handwritten notes saying that her death had influenced their decision to vote.
    In 'Surreal' Hearing, Son, 30, Ordered to Move Out of Parents' Home

    In 'Surreal' Hearing, Son, 30, Ordered to Move Out of Parents' Home

    According to court filings cited by ABC 7 Chicago , his parents said he does not contribute to household expenses or do chores. Mark and Christina Rotondo took their son to court after giving him five notices to leave their home on Weatheridge Drive.
    Multiple Injuries Reported after School Bus, Dump Truck Collide in New Jersey

    Multiple Injuries Reported after School Bus, Dump Truck Collide in New Jersey

    The bus from East Brook Middle School was traveling on Interstate 80, west of exit 25, when it collided with the dump truck. In the immediate aftermath of the accident, Murphy tweeted his reaction: "Our hearts are broken by today's tragedy".
  • Gulf Coast braces for Subtropical Storm Alberto

    Gulf Coast braces for Subtropical Storm Alberto

    Sunday, during the period when Alberto is expected to pass closest to South Florida on its course toward the northern Gulf coast. Heavy downpours were expected to begin lashing parts of Florida, Louisiana, Mississippi and Alabama on Sunday.
    Things we learned from Fulham's win over Aston Villa

    Things we learned from Fulham's win over Aston Villa

    Ryan Sessegnon continued his excellent season with a sensational performance at Wembley. But Bruce is ready to go again next season. But he added: "We must adapt ourselves".
    PayPal agrees to buy Sweden's iZettle in $2.2 billion deal

    PayPal agrees to buy Sweden's iZettle in $2.2 billion deal

    The combination will give PayPal in-store capabilities in 11 markets including Brazil, Nordic countries, France, and Mexico. The deal will be closed in all-cash, and it is expected to help the company to provide a better service, worldwide.