10th fuel price hike in 17 days; petrol costlier by 30 paise per litre
According to experts, the surge in oil prices is likely to have a cascading effect on the rates of other essential commodities as well.
FollowOil marketing companies hiked fuel rates once again on Saturday, the tenth revision this month.
In the latest revision, petrol was made costlier by 30 paise per litre.
With this, the price of petrol in Delhi has now touched Rs 101.84 per litre, and diesel remains at Rs 89.87 per litre.Â
In Mumbai, commuters will have to pay Rs 107.83 for petrol and Rs 97.45 for diesel.
In Kolkata, people will shell out Rs 102.08 for petrol and Rs 92.96 for diesel.
| City | Petrol (Price Per Litre) | Diesel (Price Per Litre) |
| Delhi | 101.84 | 89.88 |
| Kolkata | 102.08 | 92.97 |
| Mumbai | 107.83 | 97.46 |
| Chennai | 102.49 | 94.39 |
| Bengaluru | 105.25 | 95.26 |
| Hyderabad | 105.83 | 97.96 |
| Noida | 99.14 | 90.22 |
| Patna | 104.73 | 95.94 |
| Lucknow | 98.92 | 90.28 |
The main reasons for the price hike are international oil rates and the higher domestic tax structure levied by central and state governments.
According to experts, the surge in oil prices is likely to have a cascading effect on the rates of other essential commodities as well.Â
Sanjay Aggarwal, President of PHD Chamber of Commerce and Industry, said it is of utmost importance for the government to address the surging prices of gas, petrol and diesel.Â
Higher prices of petroleum products always increase consumer price inflations, ultimately hurting economic revival, demand and growth.Â
Called for calibrated price control, Aggarwal said the retail prices of auto fuel should not be left open-ended based on international prices as there should be an inherent and prudent mechanism, which is agreed and approved by both central and all state governments, for controlling and checking prices.
The PHDCCI urged the central government to convince all states governments and take them on board for controlling and checking prices of petroleum products by ensuring that there is no revenue loss to the states if any model is mutually agreed and accepted by both the governments.
The body also suggested that the Central and all the state governments must come forward and hold a Goods and Services Tax Council meeting for inclusion of all petroleum products under the GST structure so as to do away with the cascading of taxes levied as per the pre-GST regime, of which no credit is made available to the manufacturing and/ or service sector and uniformity can be provided in the pricing of petroleum products.Â
