Petrol prices touched a new-high on Friday at Rs 79.99 per litre, and Rs 87.39 per litre in Delhi and Mumbai, respectively.
Diesel prices also continue to rise as the price increased by Rs 0.52 per litre in Delhi, reaching Rs 72.07 per litre. Whereas in Mumbai, diesel prices rose by Rs 0.55 per litre reaching Rs 76.51 per litre on September 7, reported Indian Express.
On September 6, petrol prices in Delhi and Mumbai increased to Rs 79.51 and Rs 86.91 per litre, respectively. Diesel prices too saw an upward swing in both the areas. Diesel in Delhi was sold at Rs 71.55 per litre, whereas in Mumbai, diesel price was Rs 75.96 per litre.
Senior Congress leader P Chidambaram Tuesday blamed the National Democratic Alliance (NDA) government for rise in petrol and diesel prices, saying it was happening due to “excessive taxes”.
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.
— P. Chidambaram (@PChidambaram_IN) September 3, 2018
Centre blaming the States is a spurious argument. BJP forgets its boast that BJP is ruling 19 States. Centre and States must act together and bring petrol and diesel under GST.
— P. Chidambaram (@PChidambaram_IN) September 3, 2018
NITI Aayog Vice Chairman Rajiv Kumar had earlier said the daily or weekly hike in petrol and diesel prices should not be the cause of worry. “Weekly, daily or periodic changes in global oil and commodity prices are to be observed but don’t necessarily have to be responded. The prices rose in June but then declined in July. Is not it? Same situation may happen again, therefore policy cannot be a knee-jerk reaction to periodic events in the markets,” Kumar said.
Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the US dollar. State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on 1st and 16th of every month in favour of daily price revisions.