Petrol and diesel were hiked again across the country for the fifth straight day on Sunday, pushing fuel rates to further record highs.
Petrol in Delhi climbed by 35 paise to Rs 107.59 per litre, while diesel was increased by the same amount to Rs 96.32 a litre, according to the latest price notification by state-owned fuel retailers.
In Mumbai, a litre of petrol costs Rs 113.46 per litre, while diesel costs Rs 104.38 in India. Petrol and diesel prices per litre are at Rs 108.11 and Rs 99.43 in Chennai, Rs 104.52 and Rs 100.59 in Kolkata respectively.
The current price hikes come as a result of an unrelenting rise in international oil prices which have thrust the fuel rates to their highest-ever levels across the country. While petrol is hovering above 100 - a-litre mark in all major cities, diesel is past the psychological level in over a dozen states.
The total increase in petrol price since May 5, 2020 decision by the government to raise excise duty to record levels now totals Rs 35.98 per litre. Diesel rates have increased during this period by Rs 26.58 per litre.
The government had raised excise duty on petrol and diesel to mop up gains that would have otherwise accrued to consumers from international oil prices crashing to as low as $19 per barrel. While international prices have since recovered to $85, excise duty has remained at Rs 32.90 per litre on petrol and Rs 31.80 on diesel.
Also Read: No plans for excise duty cuts yet on petrol and diesel.
Oil Minister Hardeep Singh Puri recently said that such levies funded government schemes to provide free cooking gas, COVID vaccines, and meals to millions amid the pandemic.
I think this simplistic political narrative we get in India that 'prices have gone up, why don't you reduce your taxes? so every time price goes up due to something else, it says you axe your own feet in the process, he had said late on Friday.
Opposition parties comprising Congress have time and again criticised the Modi government over the fuel price hikes demanding a reduction in taxes. Meanwhile, Congress has said it will launch a massive protest against petrol and diesel price increase from 14 November to 29 November.