Bharat Bandh: Petrol, diesel prices continue to breach record levels on Monday

Bharat Bandh: Petrol, diesel prices continue to breach record levels on Monday

Apart from a 25 per cent Value Added Tax (VAT) on petrol (and 21 per cent on diesel), the Maharashtra government has also introduced Rs 9 and Rs 1 as various cess on petrol and diesel respectively.

Petrol and diesel retail prices touched record levels on Monday with hiked prices in the national capital. Petrol dealers said that for the last two weeks, fuel prices have been increasing continuously at least by 20 paise to 30 paise every day. While petrol costs ₹88.12 a litre, diesel is priced at ₹77.32 a litre, according to the daily price notification issued by OMCs.

Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike, corruption and unemployment.

Diesel prices in the three cities were also raised today to Rs 77.32, Rs 75.68 and Rs 76.98 per litre, respectively.

The soaring prices are continuing to burn a hole in the pockets of commuters, one of whom feels he may have to avail bank loans to pay for fuel.

Sweden faces political deadlock after far-right gains
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Since oil prices have started rising, following U.S. sanctions on Iraq and the slide of the rupee against the dollar, there have been calls to reduce tax. The spike in prices has renewed calls for cut in excise duty but Finance Minister Arun Jaitley has remained non-committal, saying worldwide oil prices are volatile and have not shown any linear movement.

The VAT on petrol has been reduced from 30 to 26 per cent and from 22 to 18 per cent on diesel, Rajasthan Chief Minister Raje announced at a public gathering in Rawatsar in Hanumangarh district on Sunday.

But how much of the petrol price goes to the government as taxes?

However, the central government is yet to announce any cut on the excise duty levied on petrol and diesel.

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