Published On : Tue, Jan 16th, 2018

Diesel Prices Touch Fresh Record High

Nagpur: Diesel prices on Tuesday touched a new record high while petrol was selling for close to Rs 65 per litre ( 64.98 Per Litre) in Nagpur. The petrol price in Nagpur was Rs 79.19 Per Litre on Tuesday, up by Rs .09 since Monday.

In Mumbai, diesel price went up to Rs 65.90 per litre on Tuesday while petrol was at Rs 79.15 per litre. In Kolkata and Chennai too, diesel prices were above Rs 64 per litre on Tuesday.

State-owned oil companies had in June 2017 adopted dynamic pricing for fuel, following which prices have been changing every day. While prices went down in the initial few days of the policy, they rose after that. In October, demands to bring petrol and diesel under Goods and Services Tax were made after no respite from rise in fuel prices.

Following this, the Narendra Modi government had cut excise duty on fuel while some states also cut VAT to give relief to consumers. However, prices again started peaking in December 2017. With diesel prices touching record high, clamour is again growing for cut in excise and VAT on fuel to provide relief to consumers.