Know how petrol price hike will affect common man in Delhi
On Wednesday petrol and diesel prices were hiked for the ninth consecutive day in a row as a rally in international oil prices took retail rates in India to new highs.
New Delhi: On Wednesday petrol and diesel prices were hiked for the ninth consecutive day in a row as a rally in international oil prices took retail rates in India to new highs. After this surge, petrol and diesel prices stands at Rs 89.54/litre and Rs 79.54/ litre respectively. This rise in crude prices will also put upward pressure on petrol and diesel prices across the country, which are already at all-time highs due to the recent rally in international crude prices as well as high central and state levies.
Opposition parties including the Indian National Congress are criticising the consecutive hike in the prices of diesel and petrol. Congress demanded an immediate cut in taxes to ease the burden on the common man. The ruling party hiked the central excise duty on petrol to Rs 32.98 per litre last year from Rs 19.98 per litre at the beginning of 2020 and increased the excise duty on diesel to Rs 31.83 per litre from Rs 15.83 over the same period to boost revenues because economic activities were not doing well.
Not only in national capital petrol and diesel reaching a new high of Rs 86.30 per litre in Mumbai. Due to this consumers are not getting the benefit. Retail prices of automobile fuels have also reached new highs. When asked about the reason behind this surge, the government told that global crude oil prices have risen by more than 50 per cent to over $63.3 per barrel since October, forcing oil retailers to increase pump prices.