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

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Except for relief on Wednesday, 5 September, petrol and diesel rates have gone up every day since 26 August in Delhi, the Economic Times reported. Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now. It gained 22 paise to Rs 83.61 per litre.

Similarly, petrol is being sold for ₹83.54 per litre in Chennai and the diesel retail price is ₹76.64 per litre. Because the price is built up by excessive taxes on petrol and diesel.

Elsewhere in Maharashtra, the price of petrol was over Rs 88 per litre, and that of diesel around Rs 76 per litre, the All India Petrol Dealers Association (AIPDA) said. Both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. The spike in prices has renewed calls for cut in excise duty but Finance Minister Arun Jaitley has remained non-committal, saying global oil prices are volatile and have not shown any linear movement.

Fuel prices have yet again witnessed a fresh hike, with petrol being sold at a record high rate of Rs. 80.38 per litre in New Delhi, and diesel at Rs 72.51 per litre.

This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June past year. Besides Delhi, several other key cities have also come under the effect of hiked prices. Delhi charges a Value-Added Tax of 27% on petrol and 17.24% on diesel while Mumbai has a maximum Value-Added Tax of % on petrol.

Nearly half of the retail selling price of the two fuels is made up of central and state taxes. The opposition has demanded the central government to cut excise duty on fuel prices.

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