Biggest single-day increase in petrol and diesel prices in Ahmedabad

Chandrababu announces cut of Rs 2 in fuel prices

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment.

"Diesel, petrol price rise is out of our hands because oil producing countries have limited production", the minister said, adding, "We're not saying we can't do anything". In cities like Kolkata, Mumbai and Chennai, a per litre petrol is available at Rs 83.27, Rs 87.77 and Rs 83.54 respectively. The increase pushed the petrol price in Delhi to Rs 80.50 per litre. The central government now levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. "Moreover tax structure is such that VAT on fuel rises with the rise in the price of fuel".

Petrol and diesel prices continue to rise for the fifth consecutive day in the nation capital. At least 20 other political parties, including the Nationalist Congress Party (NCP), Dravida Munnetra Kazhagam (DMK) and the Samajwadi Party (SP), have extended their support to Congress against the fuel price hike.

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The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72. They blame the government's unwillingness to cut excise duty for the high fuel prices and consumer burden.

According to reports, the Centre imposes a total of Rs 15.33 per litre of the excise duty on diesel and Rs 19.48 on petrol. A reduction in retail prices can happen only if excise duty is reduced - in which case the Centre and state governments bear the loss, or the oil firms bear it directly. This led to its excise collections from petro goods more than doubling in the last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

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