It's 85.57 per liter Petrol Price in Nagpur after today's hike

It's 85.57 per liter Petrol Price in Nagpur after today's hike

It's 85.57 per liter Petrol Price in Nagpur after today's hike

"Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices. So we are trying to make a consensus in GST Council on bringing petroleum under GST, that will decrease the price", Fadnavis said while replying to rising petrol and diesel prices in the state.

"The oil price has increased by $30 a barrel since last July as a result of OPEC (the Organisation of the Petroleum Exporting Countries) and Russian Federation limiting production to reduce an oversupplied market".

"Bonanza to central government is Rs 25 on every litre of petrol".

While the retail prices have gone up, the prices at which the fuel is sold to petrol pump dealers have come down drastically since 2013. As soon as Karnataka elections got over, fuel prices have seen an upward trend.

Putting the onus on the Centre, he said, "Let's hope that something fruitful in this regard transpires in today's meeting between Union Petroleum minister Dharmendra Pradhan and oil companies".

Meanwhile, Fuel rates continue to rise for the 11th day in a row on Thursday, taking the cost of petrol and diesel to a record high.

Indian petrol and diesel prices are benchmarked against Singapore gasoline prices and Arab Gulf diesel prices, which mostly track movements in crude oil prices. The cut is likely to be in the range of Rs 2 to Rs 4 a litre, they added.

"Fuel prices change as per the global crude prices".

The finance ministry has provided data on levies on petrol and diesel to the PMO.

There seems to be no respite from the boiling fuel prices in the country. In addition to it, states have Value-Added Tax the rates of which vary from state to state.

This brings us to another crucial question: Why hasn't the government included petrol and diesel in the Goods and Services Tax (GST) regime?

The prices of both petrol and diesel have witnessed a hike of over Rs 2 per litre over the past 10 days, both touching fresh record highs every passing day.

RAC fuel spokesman Simon Williams said: "Fuel prices are now at their highest since mid-October 2014 (16 October 2014) which means we are paying 25p more a litre than we were at the start of 2016 when oil crashed to $26 a barrel and the average price of both fuels was around 101p".

An year before the 2014 general elections, the resurgent Bharatiya Janata Party (BJP) had myriad reasons to be happy as social media, which was getting increasingly powerful, took the hapless Manmohan Singh government to the cleaners.

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