No respite as petrol, diesel prices touch a new high

petrol, diesel, fuel price, Petroleum and Natural Gas Minister, Dharmendra Pradhan, Organization of the Petroleum Exporting Countries, OPEC, Goods and Services Tax, GST,

There is no respite for the common man from the rising fuel prices. On Tuesday petrol prices rose for the 16th consecutive day touching a new high of Rs 78.43 per litre in Delhi and Rs 86.24 per litre in Mumbai.
The cost of diesel per litre also surged to Rs 69.31 per litre in Delhi and Rs 73.79 a litre in Mumbai.

ALSO READ: Diesel, Petrol prices in Mumbai hit all time high

Meanwhile, the Indraprastha Gas Limited (IGL) increased the price of Compressed Natural Gas (CNG) in Delhi and nearby areas, comprising Noida, Greater Noida and Ghaziabad on the back of weakening dollar and revision in proportions of domestic gas allocation.
Price of CNG has increased by Rs 1.36 per kg in Delhi and Rs 1.55 per kg in in Noida, Greater Noida, and Ghaziabad.
The central government has been under pressure to take steps to decrease fuel prices as taxes account for nearly half retail price. The Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier assured the public that the government will soon take out a solution to tackle the situation.
He further pointed out that lower production of oil by Organization of the Petroleum Exporting Countries (OPEC) and the consequent rise in crude oil price in the international market are some of the factors affecting the fuel price.
In April, Pradhan had said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.

Ups and downs since 2013

Lowest petrol price: Rs 62.75 a litre on March 10, 2016

Highest : Petrol touched Rs 82.07 per litre in 2014

Year 2017, 2018: Petrol above Rs 65 a litre and rising

Year 2017:  Began with petrol at Rs 76.91 a litre and ended at Rs 77.87.

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