10 short of hitting a century! Petrol prices sky high at ₹90 per litre

With the inflating rates of petroleum, the opposition parties got together to protest against the central government

10 short of hitting a century! Petrol prices sky high at ₹90 per litre

Fuel Price Hike is currently the burning issue in India, with the petrol and diesel prices touching the sky. On Monday, the opposition parties across India participated in the nationwide strike called by Congress to protest against the same.

The situation is alarming and serious as for the first time in history, the petrol on Monday was being sold at ₹90 per litre in Parbhani, Maharashtra. However, today, it is being sold at ₹90.05 per litre. In Delhi and Mumbai, the petrol prices are as high as ₹80.87 and ₹88.26 per litre, respectively.

The commoners seek accountability from the government regarding the constant increase in fuel prices which directly affects the price of essential commodities. However, Union Minister Ravi Shankar Prasad on Monday raised his hands from the responsibility saying that it is not in their hands to control the hike in petrol and diesel prices.

More than ₹10 jump in Petrol price

Since the inception of this year, the petrol prices have increased from ₹77.87 to ₹88.26 which calculates to a hike of more than ₹10. On the other hand, the price of diesel has increased to ₹77.47 from ₹63.35.

Commoners had more relief during UPA regime

During the Congress-led UPA government, the international cost of a crude oil barrel was $160 and the petrol price in Mumbai reached ₹82 tops. However, the cost of the crude oil barrel in international market space has decreased to $77 per barrel but the petrol price has crossed ₹90 per litre.

Also Read - Hike In Fuel Prices Is To Compensate For Demonetisation Failure: MNS Chief Raj Thackeray

Excise collection doubles

Since 2014, the central government’s excise collection has been doubled through the sale of petroleum products. Between the year 2014 to 2015, the government earned ₹99,184 crore, while in 2017-18, government’s earnings increased to ₹2,29,019 crore. Moreover, the revenue of various states has increased to ₹1.84 lakh crore from ₹1.37 lakh crore in four years. 

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