Ever Increasing Petrol Price Hits Each Household Hard In India; Centre Robbing Common Man On A Daily Basis 

Petrol and diesel prices have gone through the roof ever since the central government announced daily revision of fuel prices. Petrol price in Delhi on Tuesday was at Rs70.38 per liter, whereas in Hyderabad it is Rs74.50 and in Mumbai a liter of petrol costs Rs79.48.

It is noteworthy to mention here that before Narendra Modi took over as Prime Minister in 2014, crude oil price was over $100 per barrel (bbl) but the petrol price was around Rs60 a liter. The Centre which has all authority over petrol and diesel prices throughout India is squeezing people of all sections of society - bike and car owners directly and all others who are affected by the increased prices of essential commodities due to ever increasing transport charges on account of fuel prices.

The hike comes at a time when the price of international crude oil of Indian Basket is at $52.73 per barrel (bbl) as on September 11. The government had steadily increased excise duty on petrol and diesel when the global crude prices had fallen below $30 a barrel.

It is noteworthy to mention here that before Narendra Modi took over as Prime Minister in 2014, crude oil price was over $100 per barrel (bbl) but the petrol price was around Rs60 a liter. The Centre which has all authority over petrol and diesel prices throughout India is squeezing people of all sections of society - bike and car owners directly and all others who are affected by the increased prices of essential commodities due to ever increasing transport charges on account of fuel prices.

On July 1 this year, the prices of petrol and diesel in the national capital were Rs63.09 and Rs53.33 per liter respectively.

Excise duty on petrol was hiked by Rs 11.77 per liter and that on diesel by 13.47 a liter ever since Prime Minister Narendra Modi-led BJP government came to power in 2014.

The government had in November 2015 and January 2016 raised excise duty on petrol and diesel five times to take away gains arising from plummeting international oil prices. Excise duty on petrol was hiked by Rs4.02 a liter and that on diesel by Rs6.97.

Prior to that, the government had in four instalments raised the excise duty on petrol and diesel between November 2014 and January 2015 to take away gains arising from fall in international oil prices.

The four excise duty hikes during this period totalled Rs7.75 per liter on petrol and Rs6.50 a liter on diesel. It led to about Rs20,000 crore in additional revenue to the government, helping it meet the fiscal deficit target.

Petroleum products still attract state and central levies such as excise duty and VAT(Value added tax) as the government has excluded petrol and diesel from the ambit of GST (Goods and Service Tax).

Earlier this month, Oil Minister Dharmendra Pradhan ruled out cutting taxes on petrol and diesel to cushion the impact of rising international oil prices.

Asked if the government is considering cutting excise duty on petrol and diesel, he said, "Not yet. When situation arises, we will see."