Diesel price cut by 21 paise per liter, but LPG rates hiked – Times of India

New Delhi: Diesel became cheaper by 19 to 21 paise across the country on Wednesday after cutting prices for the first time in almost a month, but petrol prices remained unchanged, while LPG refills for households (supplied in cylinders for domestic cooking) Gas) became costlier by Rs.25. Second straight increase after 1 July
The slight cut in diesel prices did nothing to address the fact that petrol is burning a huge hole in people’s pockets all over the country, hovering above Rs 100 per litre.
The second hike in the price of domestic LPG within 48 days will further push the household budget as the subsidy ends from May 2021. The price of LPG was increased by Rs 25.50 per cylinder on July 1. The price has cumulatively increased by Rs 165 per cylinder. More than double from 1 January and March 2014.
Following the latest hike, the price of domestic ‘subsidised’ LPG is now Rs 859 per 14.2 kg cylinder in Delhi, or more than double from Rs 410 in March 2014. Similarly, a refill will cost Rs 859.50 in Mumbai, Rs 886 in Kolkata and Rs. 875.50 in Chennai.
The price of LPG is usually revised on the 1st of every month. But this time, interestingly, the state-run fuel retailers raised the price of non-subsidised LPG on August 1, but to avoid criticism from the opposition in Parliament, the oil ministry’s ‘eyes’ on domestic refill prices. left unchanged, which was in session. Anyway, the opposition was already pushing for a debate on high oil prices.
There is little hope of a drastic reduction in fuel prices after the Finance Minister Nirmala Sitharaman Monday ruled out any cut in central taxes, which is keeping pump prices high, even as India’s crude oil costs fell to $68.92 a barrel from a high of $75 in mid-July, When the price of petrol started hitting Rs 100 per liter.
The Center’s excise duty increased by 88% to over Rs 3 lakh crore in 2020-21 due to higher taxes despite lower sales due to the pandemic. In contrast, the income of all states from increased VAT and levy increased by just over 1% to Rs 2,02,937 crore in the same fiscal.
The Center had raised excise duty on petrol by Rs 13 and diesel by Rs 16 when oil prices fell between March-end and May 2020 due to the pandemic. It increased the excise duty on petrol from Rs 19.98 per liter to Rs 32.98 and from Rs 15.83 to Rs 31.83. States including Delhi also increased VAT.

.

Leave a Reply