Fuel Prices on High: Petroleum Minister Dharmendra Pradhan Wants Petrol And Diesel To Come Under GST To Check Increasing Rates
Petroleum and Natural Gas Minister Dharmendra Pradhan today stressed on the need to bring petrol and diesel under Goods and Services Tax (GST).
New Delhi, September 7: Petroleum and Natural Gas Minister Dharmendra Pradhan today stressed on the need to bring petrol and diesel under Goods and Services Tax (GST). Pradhan also said that the fuel hike is mainly due to due to the depreciation of rupee against dollar. According to the union minister, the other reason for the fuel hike is that the oil producing countries have not increased the production.
Speaking to media, Pradhan said, “Fuel price hike mainly due to the depreciation of rupee against dollar. Petrol and Diesel should come under GST, I accept people are facing the problem. Oil producing countries like Iran, Venezuela had said they'll increase productivity but as per July-Aug report they didn't.”
Petrol and diesel prices continue to rise causing trouble for the consumers. A litre of petrol costs Rs 87.39 per litre in Mumbai and Rs 79.99 per litre in Delhi. A litre of diesel on the other hand in Mumbai is being sold at Rs 76.51, and it is priced at Rs 72.07 a litre in Delhi. Petrol price in Kolkata is at Rs 82.50/litre. Earlier this week, an official told PTI that the Centre has decided not to cut excise duty on petrol and diesel due to its fiscal responsibility. However, according to reports, the Indian Oil Corporation, one of the largest oil retailers charges Rs 39.21 a litre to dealers excluding Value Added Tax (VAT) and excise.
To protest against the spiralling fuel prices, the Congress and other opposition parties have decided to hold a Bharat Bandh on September 10. The Congress called the steep rise in fuel prices a 'fuel loot’. One litre of petrol is comparatively cheaper in our neighbouring countries. Petrol is charged at INR 57.83 in Pakistan, while in Sri Lanka it is INR 64.12. In Bangladesh one litre of petrol costs INR 73.06, whereas Nepal charges INR 68.30.
(The above story first appeared on LatestLY on Sep 07, 2018 11:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).