Truth of hike: BJP talks about percentage increase in petrol, diesel prices

Truth of hike: BJP talks about percentage increase in petrol, diesel prices

Truth of hike: BJP talks about percentage increase in petrol, diesel prices

Sporadic incidents of violence were reported on Monday during a Congress-led opposition's Bharat Bandh against spiralling fuel prices that disrupted normal life mainly in Bihar, Kerala, Karnataka, Assam and Odisha.

The Bharat Bandh called by the Congress and Left on Monday against rising fuel prices and tumbling rupee evoked mixed response in the country as the opposition closed its ranks against the Modi government. It is clear that the prime reason why petrol and diesel are expensive is because of the central and state taxes. The percentage increase was 20.5.

Finance Minister Arun Jaitley remained evasive on the issue of cutting down excise duty to cushion the spiralling petrol and diesel prices, adding that global oil prices are volatile and have not shown any linear movement. In Chennai, petrol costs Rs 84.05 and diesel Rs 77.13.

Similarly, it has also shared the increase in diesel prices and the percentage hike in 2004, 2009, 2014 and 2018 respectively.

On Tuesday, petrol was being sold at Rs 80.87 and diesel at Rs 72.97 per litre in the national capital of Delhi.

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The fuel rates have been on fire since mid-August, rising nearly every day due to a drop in rupee value and rise in crude oil rates. In Mumbai, the price of petrol rose to Rs 88.26 per litre today - an increase of 14 paise.

India is witnessing a surge in the prices of diesel and petrol like never before. Union Petroleum Minister Dharmendra Pradhan also attributed the hike in fuel prices mainly to rupee depreciation.

This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June a year ago. On Monday, Andhra Pradesh government announced a reduction of tax on petrol and diesel by Rs 2 a litre. In Kolkata, petrol costs Rs 83.75 and diesel Rs 75.82.

Addressing the Legislative Assembly, the AP chief minister N Chandrababu Naidu accused the BJP government at the centre for not considering to reduce fuel prices despite earning large sums through various taxes. On top of this, states levy Value Added Tax (VAT) - the lowest being in Andaman and Nicobar Islands where 6 per cent sales tax is charged on both the fuels. This led to its excise collections from petro goods more than doubling in last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

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