The fuel prices have seen a continuous hike for the ninth day in a row. The steadily rising oil prices in the international oil prices have pushed the petrol, diesel prices to a record high in India.
The petrol and diesel prices witnessed a hike of 25 paise per litre each on Wednesday for the ninth continuous day, as per a price notification of state-owned fuel retailers. After the latest price hike, petrol has breached the mark of ₹89.54 per litre in Delhi, while the diesel rate has climbed to ₹79.95 in the National Capital Region. With the latest hike, fuel prices have touched the highest level India has ever seen in some states including Rajasthan. Earlier this week, fuel prices were hiked by 30 paise per litre for petrol, while diesel became costlier by 35 paise.
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The continued price hikes have been criticised by the opposition parties including Congress. The opposing parties have demanded an immediate cut in taxes for relief from the rising prices.
Oil Minister Dharmendra Pradhan has recently told Parliament that the government is not considering a cut in excise duty in fuel anytime soon.
Congress leader Rahul Gandhi had attacked the ruling government by alleging that it is "looting people". "The Modi government is determined to loot people, just to ensure the development of "two"," he said using the hashtag "FuelLoot".
(Also Read: ONGC takes leaf out of Reliance's book, floats subsidiary to buy own gas)
For the record, central and state taxes make up for over 56% of the retail selling price of diesel and about 61% of petrol. In similar updates, the price of liquefied petroleum gas domestic cylinders has also hiked by ₹50 per unit recently in the capital city. After the hike, LPG cylinder now costs ₹769 per 14.2 kilograms in Delhi from Monday.