PETROL LIKELY TO COST `80 PER LITRE
Call to cut excise duty, VAT on the rise
Petrol prices in the city are fast heading towards `80 per litre. Petrol on Friday touched a 55-month high while diesel hit an alltime high. Prices are expected to increase.
Petrol prices in the city are fast heading towards `80 per litre. Petrol on Friday touched a 55-month high while diesel hit an all-time high. The dealers expect the prices to increase further in the coming days on the back of increasing global crude oil prices.
The demand for a cut in excise duty by the Centre and a cut in VAT by the state government is on the high to check price rise.
As part of the daily revision of fuel prices, the fuel price has been increased again for April 21.
On Sunday, petrol will be sold for `78.50 per litre, which is 55-month high, while diesel will be sold for `71.04, which is an alltime high.
The fuel prices have been consistently increasing since August 2017. On August 1, 2017, petrol price was `69.18, while that of diesel was `60.30 per litre.
However, by August 27, 2017, the price of petrol zoomed to `73.06 and diesel to `61.88 indicating an increase of `3.88 for petrol and `1.58 for diesel.
The fuel prices in Hyderabad are comparatively higher when compared with other metro cities in the country, except Mumbai. This is because TS has the highest VAT being imposed on fuel. The TS government collects 35.2 per cent VAT on petrol and 27 per cent on diesel.
Petrol is retailed at `74.08 per litre in Delhi, `76.78 in Kolkata, `81.93 in Mumbai and `76.85 in Chennai. Diesel price is `65.31 in Delhi, `68.01 in Kolkata, `69.54 in Mumbai and `68.90 in Chennai.