Facing flak from the Opposition, the central government has been passing the blame on the states and the erstwhile United Progressive Alliance for the steep hike in fuel prices.
Fuel prices touched yet another high on Sunday with the oil marketing companies once again hiking the petrol and diesel rates by 35 paise per litre.
With this, the prices of petrol touched Rs 105.84 per litre and diesel at Rs 94.57 per litre in the national capital New Delhi. In Mumbai, both petrol and diesel now cost over the three-figure mark. While a litre of petrol in Mumbai now costs Rs 111.77, for diesel that price is now at Rs 102.52.
In Bengaluru, petrol is available at Rs 109.16 per litre and diesel at Rs 100 per litre.
Petrol Price in metro cities
Chennai
Rs 102.70
Delhi
Rs 105.49
Kolkata
Rs 106.10
Mumbai
Rs 111.43
Diesel Price in metro cities
Chennai
Rs 98.59
Delhi
Rs 94.22
Kolkata
Rs 97.33
Mumbai
Rs 102.15
Diesel Price in metro cities
Chennai
Rs 98.59
Delhi
Rs 94.22
Kolkata
Rs 97.33
Mumbai
Rs 102.15
Oil marketing companies have been passing on to the people the bulk of the cost burden on account of fluctuations in the international benchmark Brent crude.
As on October 16, the Brent crude was trading at $84.84 per barrel. A month ago, the Brent crude was trading at $73.51.
Facing flak from the Opposition, the central government has been passing the blame on the states and the erstwhile United Progressive Alliance for the steep hike in fuel prices.
Minister Petroleum and Natural Gas Minister Hardeep Singh Puri blamed the surge in prices on the state governments that are not in favour of bringing petrol and diesel under the ambit of the Goods and Services Tax.
He also blames the UPA government's decision to de-regulate the prices of fuel, which allowed international rate fluctuations to reflect in India.
Considering that India imports 85 per cent of its fuel requirements, any increase in cost per barrel has a direct impact on the prices in India, he further said.
However, the government, in the same breath, continues to defend the 32 per cent Excise duty that it charges on petrol. Justifying the high cess, the government says that revenue generated from this cess is used to fund government welfare schemes and to provide free vaccination.
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