Fuel prices continued to surge on Sunday, a day after the Centre blamed external factors, such as strengthening of the United States dollar and the Organization of Petroleum Exporting Countries for the rise.
Petrol prices increased by 12 paise across all metro cities. In Mumbai, petrol now cost Rs 87.89 per litre as against Rs 87.77 on Saturday. In Delhi, the price of a litre of petrol was now Rs 80.50. While petrol cost Rs 83.39 per litre in Kolkata, it cost Rs 83.66 per litre in Chennai.
Meanwhile, a litre of diesel cost Rs 77.09 in Mumbai – an increase of 11 paise. In Delhi, cost of diesel rose from Rs 72.51 to Rs 72.61 per litre. In Kolkata, diesel on Sunday cost Rs 75.46, a rise of Rs 10 paise from Saturday. A litre of petrol in Chennai cost Rs 76.75, after rising by 11 paise.
State-owned oil firms had in June last year discarded the policy of changing fuel rates on the first and 16th of every month, and resorted to daily price revision instead.
On Saturday, Shiv Sena, the Bharatiya Janata Party’s ally in Maharashtra, put up posters protesting against fuel price hike in Mumbai.
Union Minister of Petroleum and Natural Gas Dharmendra Pradhan on Saturday claimed that purchasing oil through US dollars was creating hurdles for the country. “Today, Indian currency is stronger than ever compared to all other currencies,” Pradhan claimed. “But how do we purchase oil? Through US dollars. Today the dollar is, in a way, world’s biggest exchange currency. That is creating a problem for us.”
He also blamed OPEC countries for not meeting their petroleum production targets. “OPEC countries had assured the world that they would produce one million metric tons per day of crude oil from July 1,” Pradhan said. “The target has not been complied with as per the statistics for July and August. These factors are not in India’s hands.”
On Friday, Pradhan had said that it was essential to bring petrol and diesel under the purview of Goods and Services Tax. The unusual surge in fuel price is due to political and economic situations at the international level and the Centre has been vigilant about it, he said in Bhubaneshwar.
“As these two items [petrol and diesel] are out of the GST, the nation has to bear a loss of about Rs 15,000 crore. If petrol and diesel are brought under the GST, it will be better for all, including consumers,” he had said.
The Congress has called for a nationwide bandh on Monday to protest against rising fuel prices. The party has also asked other Opposition parties to join them in their protest.
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