Diesel Price Hits New Record High Again, Petrol Inches Closer to Rs 80 Per Litre in Mumbai

India.com News Desk
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Diesel Price at Fresh High, Petrol Price Highest Since Narendra Modi Government Came to Power

Diesel price on Tuesday reached fresh record high while petrol price was at fresh highest point since the Narendra Modi government came to power in 2014.

Mumbai, Jan 17: Diesel prices on Wednesday touched a fresh high for the third day in a row as international fuel prices remained higher. In Delhi, the price on diesel on Wednesday, January 17, was Rs 62.06 per litre, 17 paise more than Tuesday, while in Mumbai, it was Rs 66.09 per litre. In Kolkata, Rs 64.72 per litre today while in Chennai it was Rs 65.42 per litre.

Meanwhile, petrol prices also hit a high, inching closing to Rs 80 per litre in Mumbai. On Wednesday, petrol cost Rs 79.27 per litre in Mumbai, 12 paise more than Tuesday. In Delhi, Kolkata and Chennai, the price of petrol was Rs 71.39 per litre, Rs 74.11 per litre and Rs 74.02 per litre today.

With the prices of petrol and diesel hitting new highs, demand for lowering excise duty and VAT on fuel also grew.

State-owned oil companies had adopted dynamic pricing for fuel from June 16, 2017 a, following which prices have been changing every day. The price of petrol in Delhi on that day was Rs 65.48 per litre while it was Rs 76.70 per litre in Mumbai. While prices went down in the initial few days of the policy, they rose after that. In October, demands to bring petrol and diesel under Goods and Services Tax were made after no respite from rise in fuel prices.

Following this, the Narendra Modi government had cut excise duty on fuel while some states also cut VAT to give relief to consumers. However, prices again started peaking in December 2017. With diesel prices  touching record high, clamour is again growing for cut in excise and VAT on fuel to provide relief to consumers.