Petrol price up by 38 paise in Thiruvananthapuram

If govt includes fuel under highest GST slab petrol diesel prices would come down by Rs 27 Rs 15

Drivers are being warned that prices at petrol and diesel pumps could increase again.

Taking to Twitter, Rahul urged Prime Minister Modi to take up the "fuel challenge" to reduce the skyrocketing fuel prices.

If there is a cut in excise duty, the Centre may also ask states to go for a cut on their value added tax to cut the prices further.

There seems to be no respite from the boiling fuel prices in the country. "There was no instruction from the government to hold prices during that time". It is possible to cut up to ₹25 per litre, but the government will not. Its net profit rose to Rs 5,218 crore in the January-March period compared with Rs 3,720.62 crore in the same quarter of the preceding fiscal year.

Fadnavis' comment came amidst rising prices of petrol and diesel over which the opposition has been targeting the Narendra Modi government.

Petrol prices have risen by Rs 11.02 while diesel has risen by Rs 7.27 in the past 12 days in Mumbai.

While HPCL, another state-owned OMC, recorded a drop of 4 per cent in its March quarter profit, the overall FY18 net profit was highest ever for the company at Rs 6,357 crore.


Global markets decide the rates of the petroleum products. The cost of petrol in Delhi today is at Rs 77.47/litre, and those having diesel cars will have to dish out Rs 68.53 per litre.

As per Indian Oil Corporation's price build-up data for fuels, the total tax component charged from consumers stands at 52 per cent for petrol and 42 per cent for diesel.

How have taxes accounted for the rise in price of crude oil in India? We are trying to build a consensus in GST Council on bringing petroleum under GST. The reason is obvious. This obviously puts a question mark on government's intentions. Gujarat, Himachal Pradesh, Madhya Pradesh and Maharashtra have since reduced Value-Added Tax on petrol and diesel.

Meanwhile, the Union Minister Nitin Gadkari said that any move to subsidise petrol and diesel prices could have an adverse efffect on welfare schemes being planned and implemented by the Central government.

"The Indian government will take the common man into consideration and come up with short-term and long-term solutions", he said.

With fuel prices seeing 13 revisions since last November, the price of fuel has today reached the amount that existed before the government announced the reduction. Its political fallout could be as grave as that of the government's lacklustre performance in terms of generation of jobs and virtually all other sectors.

"It is also likely to have a negative effect on consumer spending as putting fuel in the vehicle to get to work takes priority over shopping and eating out".

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