Diesel price all time high; Petrol sniffs at Rs 90-mark in Mumbai
Petrol prices on Monday touched fresh high by 11 paise taking its rate to Rs 82.72 per litre in Delhi while it increased to Rs 90.08 per litre in Mumbai.
On the other hand, diesel price in the Delhi touched an all-time high of Rs 74 per litre after an increase of five paise.
As of now, there are hardly major cities in the country where a litre of petrol is retailing below the Rs 80-mark, while the lowest diesel price at almost Rs 72 per litre in Chandigarh.
On the other hand, the city of Hyderabad is paying the most for diesel at Rs 80.51 per litre. There are many other cities that are almost paying Rs 80 for a litre of diesel.
Despite the incessant rise in fuel prices, the Centre has denied cutting current levels of excise duty on both petrol and diesel, reasoning that it would lead to an irrecoverable revenue loss to the exchequer. While states have tried reducing taxes on their own, their efforts have been dwarfed by globally rising crude oil prices.
Oil minister Dharmendra Pradhan recently said he is willing to bring petrol and diesel under the ambit of Goods and Services Tax or GST but needs approval from stakeholders.
“I want petrol and diesel to come under the ambit of GST. The GST Council should take a decision on this. State governments are more powerful than the Centre in the GST Council meeting,” Pradhan explained.