Petrol, diesel price hike didn’t hit common man: Oil Minister Pradhan

Petrol, diesel price hike didn’t hit common man: Oil Minister Pradhan”

Since March this year, just before the nationwide lockdown was announced, the Centre has raised excise duty on petrol and diesel by an unprecedented Rs 13 and Rs 16 per litre, respectively, in two instalments.

We can not overstate the effect that the rand's collapse is now having on fuel users: if the rand had remained at its pre-Covid-19 levels, fuel users would likely be seeing a reduction in fuel prices in the order of 75 cents a litre next month.

Since 2014, she claimed, the government raised excise duty 12 times and garnered an additional revenue of almost ₹18 lakh crore.

As per details, petrol prices in South Asia as of Saturday stood at PKR18086 per litre in India, PKR174.86 per litre in Bangladesh, PKR143.86 per litre in Sri Lanka and PKR143.31 in Maldives. The price of light diesel oil goes up by Rs 17.84 from Rs 38.14 to Rs 55.98 per litre or 44 percent increased.

Petrol and diesel prices in Delhi on Tuesday saw no change and this would come as some sort of relief for consumers who have seen price hikes nearly everyday since daily revisions were resumed from June 7.

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Prices of transportation fuel were last revised under the dynamic pricing policy on March 16 and there were few instances of price hike later only when the respective state governments hiked Value-Added Tax or cess. Picture this, the base price of both petrol and diesel is around Rs 22 per litre, but the retail price is Rs 80 a litre, meaning that taxes account for more than 200 per cent of the price of the product.

Congress leaders, led by Karnataka state president DK Shivakumar and former chief minister Siddaramaiah, took out a bicycle rally up to the Congress office in Bengaluru, though social distancing and all the other norms to contain coronavirus apparently went for a toss during the protest.

Haryana Congress president Kumari Selja led the protest in Karnal, which is chief minister Manohar Lal Khattar's home constituency.

A litre of petrol in Delhi remains ₹80.43 per litre while the rate of diesel is 10 paise more at ₹80.53. "Rather than passing on the benefits to the low cost of procurement to the people, the government had deliberately kept the price high by increasing excise duty", Congress said.

"Not once but 22 times they raised the prices of petrol and diesel".

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