Bharat Bandh: Petrol, diesel prices continue to breach record levels on Monday

Hike in fuel prices for third consecutive day

Petrol prices hit new high, Rs.87.77 per litre in Mumbai: Check today’s rate

Tamil Nadu collected Rs 3.69 crore more revenue, while West Bengal collected an additional Rs 2.06 crore in the same time period. The hike of 48 paise a litre for petrol and 47 paise for diesel is the steepest increase since the daily price revision came into effect over 14 months ago. Diesel became dearer by 10 paise per litre to set a new high.

Many working families are leaving the national capital due to "illegal" sealing of non-polluting household industries, Delhi Congress president Ajay Maken alleged at the party's "Halla Bol" rally at Trinagar on Sunday. Opposition parties have called for a nation-wide "Bharat Bandh" on Monday (September 10) to protest against the spiralling fuel prices.

Through these graphics, the BJP contended that the percentage increase in the prices of petrol and diesel was higher during the UPA regime (2004-2014) than during the NDA one (2014-present).

The government has blamed global factors for the high fuel prices and has advocated bringing petrol and diesel under the Goods and Services Tax regime, do which will require a consensus between the central and state governments.

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The central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October a year ago by Rs 2 a litre.

Apart from 25% Value Added Tax (VAT) on petrol and 21% on diesel, the Maharashtra government had also introduced Rs 9 and Re 1 as cess on petrol and diesel respectively. Nearly half of the retail selling price of the two fuels is made up of Central and State taxes.

As it stands, the sales tax the state has imposed on petrol is 30.37 per cent, and that on diesel is 23.81 per cent. The tax ratio can be raised not by increasing rates but by bringing evaders and non-filers in tax net. The excise duty on petrol was ₹9.2 per litre in 2014 and it has gone up to ₹19.48 per litre. The official said the four states which have supported Bharat Bandh collect high taxes themselves. On May 16, 2014, the petrol price was Rs 71.41 which took the percentage increase to 75.8. "Similarly, the excise duty on diesel was ₹3.46 per litre and today it stands at ₹15.33 per litre", he said.

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