Mumbai, Feb 6: Petrol and diesel prices continue to trend upwards, with the cities of Mumbai and Delhi reportedly witnessing a four-year-high in fuel prices.
Petrol rate in Mumbai surged to Rs 81.24 per litre in Mumbai, whereas, the fuel's cost is Rs 73.31 in Delhi. The per litre cost of Diesel peaked to Rs 68.39 in Mumbai and Rs 64.14 in the national capital.
Union Minister for Petroleum Dharmendra Pradhan has put the onus on states for the spike in fuel prices, saying that only four states and one union territory slashed the rate of VAT, after being recommended by the Centre in October.
On October 3, the central government dropped the excise rate by Rs 2 per litre in a bid to bring down the spiralling fuel prices. The slashing of excise rate, however, was negated by the inflating rate of brent crude oil, which is hovering around $70 per barrel.
The crude oil rate witnessed a sharp decline on Tuesday, as it dropped to $67-per-barrel. The rise in fuel prices today, despite the steep fall in crude oil rate drew questions against the Centre.
Petrol prices in India are near three-year high today. Global crude oil is at least $3 lower than Feb 2015. What kind of market-linked price deregulation is this?
— Stable Genius (@shubHASHISH) February 6, 2018
The current fuel prices have compelled motorists to recall the 2013 surge in petrol and diesel rates. The rates soared to as high as Rs 83.68 on September 24, 2013. The then rate of global crude oil had struck the $128 per barrel mark.
(The above story first appeared on LatestLY on Feb 06, 2018 02:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).