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Petrol, Diesel Price hit fresh high, Rs 77.47 in New Delhi, Rs 85.29 in Mumbai

Petrol, Diesel Price hit fresh high, Rs 77.47 in New Delhi, Rs 85.29 in Mumbai

Rising fuel prices have set off a political storm in the past few days as Diesel and Petrol rates have sky-rocketed. Today, petrol price touched a new record of Rs 77.47 per litre in Delhi while in Mumbai the price inched higher to Rs 85.29 per litre in Mumbai. Likewise, the diesel rates have also reached a high of Rs 72.96 and Rs 68.53 per litre in Mumbai and Delhi, respectively. Union Minister Nitin Gadkari on Wednesday said, “This is an unavoidable, economic situation. This is directly linked to the global economy. If we have to sell it cheap, it means we will have to buy it at higher prices and subsidize it here, and subsidizing petrol/diesel to bring down their rising retail prices will take money away from social welfare schemes of the government.

Former Union Finance Minister P Chidambaram criticised the Central Govt for the fuel price hike on Wednesday. Chidambaram claimed that the rate can be reduced by Rs 25 per litre but the Modi government is not doing it. “Bonanza to central government is Rs 25 on every litre of petrol. This money rightfully belongs to the average consumer. Central government collects Rs 15 on every litre of petrol, due to fall in crude oil prices, It also puts an additional tax of Rs 10 on every litre of petrol”.

Petrol Price in Top-4 Metro Cities

Metros Prices
Delhi 77.47
Kolkata 80.12
Mumbai 85.29
Chennai 80.42

Diesel Price in Top-4 Metro Cities

Delhi 68.53
Kolkata 71.08
Mumbai 72.96
Chennai 72.35

Telecom minister Ravi Shankar Prasad said,” the government was in the process of finding a “long-term, structured” solution to the issues arising out of the volatility of crude prices. “There is a need to find a long-term solution,” he said, adding that ad hoc measures weren’t actually desirable. In what reflected the government’s disinclination to cut the excise duties on petroleum fuels, the minister said the collected revenue is used for digital infrastructure, building highways, medical institutes, etc.

About the author

Abhishek Lohia

Abhishek Lohia was a Sports and Political Writer working for Newsfolo and is no longer associated with the organization.

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