New Delhi: Petrol prices in India continue to rise today. In the National Capital, the petrol and diesel prices touched Rs 79.51 and Rs 71.55 respectively. Compared to the Tuesday’s prices in New Delhi, the petrol price on Thursday saw a hike of 20 paise per litre while the diesel price increased by 21 paise per litre. Fuel prices remain unchanged on Wednesday. Also Read - BMC Circular, Directing That Bodies of COVID-19 Patients Only be Cremated, Withdrawn
In Mumbai, the price of petrol touched the Rs 87-mark, while the price of diesel stood at Rs 75.96. Also Read - Fire Breaks Out in Mantralaya Building in Mumbai, 4 Fire Tenders Rushed to Spot
On Wednesday the petrol was sold at an unchanged price of Rs 79.31 per litre, while the same was retailing at Rs. 86.72 in Mumbai, Rs. 82.41 in Chennai and Rs. 82.22 in Kolkata.
A litre of diesel was being sold at Rs 71.34 in Delhi, Rs 75.74 per litre in Mumbai, Rs 75.39 per litre in Chennai and Rs 74.19 per litre in Kolkata.
Finance minister Arun Jaitley on Wednesday said that the international oil prices are volatile and have not shown any linear movement. He said, “There is no straight line movement of global crude oil prices. They go up, they come down. In April and May, there was a lot of pressure. In June, they came down. In July, they came down and in August, there is again (an upward) movement. In the last two days, there has been some moderation. For six days before that, there was a gain.”
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan also blamed the rise in global crude oil prices for the hike in fuel prices in India, adding that the price surge in the country was “temporary.”
On Tuesday, former Finance Minister P Chidambaram stated, “Relentless rise in prices of petrol and diesel is not inevitable. Because the price is built up by excessive taxes on petrol and diesel. If taxes are cut, prices will decline significantly.”
The petrol and diesel prices in Delhi and most of the state capitals are cheap due to lower sales tax or VAT.
(With Agency inputs)