Retail fuel prices surge despite elections ahead

In Delhi, a litre of petrol is retailing at Rs 82.61

Despite major state election ahead, the fuel prices continue to surge.

Petrol prices were hiked again on Sunday by 17 paise.

In Delhi, a litre of petrol is retailing at Rs 82.61.

The diesel prices were revised upwards by 10 paise causing a litre of diesel in the national capital to now cost Rs 73.97.

The price of essential fuels, despite a recent cut in state taxes, has not helped much as the petrol is retailing over Rs 80 in most cities in the country.

It need be mentioned in certain places of Maharashtra, petrol rates have exceeded beyond the Rs 90/litre mark.

The incessant hike in fuel prices has become a reason of worry for the oil ministry and the government-both of whom are collaborating to find a pragmatic replacement for petrol and diesel-especially before the general elections of 2019.

Meanwhile, the government has clearly mentioned that it will not be able to reduce excise duty on fuel as it may lead to a massive revenue hit.

While several state governments had cut down VAT to provide some respite, the global crude hike continues to build pressure on the central government.

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