Published: Thu, May 31, 2018
Markets | By Erika Turner

1 paisa cut in petrol prices fuels public anger

1 paisa cut in petrol prices fuels public anger

In the 16 consecutive increases since May 14, petrol price was hiked by Rs 3.8 per litre and diesel by Rs 3.38.

Since petrol and diesel remain outside the ambit of Goods and Services Tax, states also levy hefty sales tax and value added tax (VAT). Petrol and diesel were sold for Rs 78.42 and Rs 69.30 per litre in Delhi on Wednesday. "I welcome it. One must also note that Kerala is one of the highest tax collecting states and when we appealed (for fuel price cut), their Finance Minister gave negative statement, but now they took responsibility, I thank them for it..." This is especially big when you consider the fact that earlier today the centre announced a price reduction of just 1 paisa.

A worker fills diesel in a auto as he holds 500 Indian rupee banknotes at a fuel station in Kolkata, India, November 9, 2016.

New Delhi: Motorists across the country had reason to feel a sense of outrage after state-owned oil refiners cut the prices of petrol and diesel by just one paisa - just two hours after announcing a 60 paise cut in the price of petrol and 56 paise in the case of diesel. As of now, Kerala's move on fuel cost is expected to put pressure on other states as well to reduce taxes, which are mostly ruled by Prime Minister Narendra Modi's Bharatiya Janata Party.

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The price of price of kerosene oil has been recommended to be increased by Rs8.23 per litre and price of high speed diesel by Rs12.50 per litre.

The Oil and Gas Regulatory Authority (OGRA) on Wednesday sent a summary to the power division suggesting increase in various petroleum products effective from June 1. It is doing nothing but mocking the unprecedented miseries and hardships of the common people.

Once customers realised this, relief turned into frustration, with consumers taking to social media to target the government for its inability to keep prices down.

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