At Rs 74.40, petrol price hits highest level in BJP rule, diesel at record Rs 65.65
State-owned oil firms, which have been since June last year revising auto fuel prices daily, raised petrol and diesel rates by 19 paisa per litre each in Delhi on Sunday.
Petrol price hit on Sunday Rs 74.40 a litre — the highest under the BJP-led government — and diesel rate touched a record high of Rs 65.65, triggering renewed calls for a cut in excise duty to ease burden on consumers.
State-owned oil firms, which have been since June last year revising auto fuel prices daily, raised petrol and diesel rates by 19 paisa per litre each in Delhi on Sunday, according to a price notification.
The hike, necessitated due to firming international oil prices, comes on back of a 13 paisa increase in rates of petrol effected Saturday and a 15 paisa hike in diesel, it said.
Petrol in the national capital now costs Rs 74.40 a litre, the highest since September 14, 2013 when rates had hit Rs 76.06. Diesel is priced at Rs 65.65, the highest ever.
The oil ministry had earlier this year sought a reduction in excise duty on petrol and diesel to cushion the impact arising out of international oil rates but finance minister Arun Jaitley in his Budget presented on February 1 made no concessions.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
The government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.