Despite opposition hue and cry, fuel prices continue to soar

because the petrol price touched a new high in Delhi on Sunday

Ahead of the Bharat Bandh call given by the political parties to protest the fuel price rise, the masses have no respite whatsoever.

This is because the petrol price touched a new high in Delhi on Sunday.

While the petrol is selling at Rs 80.50 per litre in the national capital, diesel’s retail price was at Rs 72.61.

The government has been consistent in blaming the international rates for the rise in fuel prices.

The Central government currently levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. On top of this, states levy Value Added Tax —the lowest being in Andaman and Nicobar Islands where 6 per cent sales tax is charged on both the fuels.

It need be mentioned that while Congress had called for Bharat Bandh various political parties including the BJP ally in Maharashtra, the Shiv Sena have taken potshots at the central government on the issue.

Implication wise, the rise in diesel prices is expected to flare up inflationary pressure as the fuel is primarily used to transport the majority of goods including agriculture products.

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