Petrol and diesel prices in India remain steady for the fourth consecutive days on Wednesday. Petrol price in Mumbai and Delhi stands at ₹97.57 per litre and ₹91.17 per litre, while per litre diesel price in these two cities are steady at ₹88.60 and ₹81.47.
(Also Read: Finance Ministry mulling tax cut on petrol, diesel to give relief to consumers)
The last change in the prices of petrol and diesel was on Saturday when the petrol price was hiked by 24 paise per litre and per litre diesel price was raised by 15 paise in Delhi.
In the last two months, the petrol price has gone up by ₹4.87 per litre while diesel rates have increased by ₹4.99 during this period.
Last month, petrol price crossed the ₹100 mark in several states like Rajasthan, Madhya Pradesh and Maharashtra. The states like West Bengal, Meghalaya and Assam announced a cut in the share of state taxes to provide some relief to the consumers.
The prices of petrol and diesel consist of state and central government taxes, dealer commission. The state and central government taxes account for around 60% of the retail price of auto fuels. Hence, there have been demands by the opposition that the government should reduce tax and bring fuels like petrol and diesel under the GST ambit.
With the rising prices of petrol and diesel becoming a major concern for the government, the Finance Ministry is likely to announce a tax cut soon this month in an attempt to reduce the burden of the common people.