The prices of diesel was seen at Rs 67.82 a litre in Delhi, Rs 70.37 in Kolkata and Rs 71.59 in Chennai
Says long-term solution is to bring all petro products under GST, doesn't see global prices coming down in near future
Among the proposals being discussed is that OMCs, too, should be asked to take a small hit by way of compensating petrol and diesel dealers a cut in their commission.
Saudi Arabia is aiming for $80 to support the valuation of Saudi Aramco before an initial public offering
In Mumbai and Chennai, petrol was sold at Rs 85.93 and Rs 81.11 a litre
Petrol and diesel prices were today hiked for the 15th day in a row
On Friday, diesel cost Rs 72.1 a litre in Delhi, about 24 per cent higher from a year before; petrol was 15 per cent costlier at Rs 80 a litre
West Bengal CM alleged that the BJP-led Centre has hiked the excise duty in nine instances even at a time when global prices were at a decline
Party sources said they were alert over a negative public perception building around fuel prices
This is an estimate issued on Wednesday by IIFL Institutional Equities
"The price of fuel can be reduced if the states cut the tax on it," Athawale said
Petrol in New Delhi is being sold 28 paise higher at Rs. 81.91 per litre, and diesel at Rs. 73.72 per litre after a hike of 18 paise
The surge in fuel prices has affected people in Mumbai the most, with petrol retailing at Rs 89.54 per litre and diesel at Rs 78.42 per litre
The fuel prices have been witnessing a steep rise since the past few weeks but were unchanged on Wednesday
States like Andhra Pradesh, Rajasthan and West Bengal this week cut taxes on fuel to reduce the burden, but the central government has so far not done so.
When a slew of questions on fuel price hike by the government was raised at a Cabinet briefing earlier this week, Telecom Minister Ravi Shankar Prasad chided reporters, telling them to ask "better" questions when the economy was "booming"."The Indian economy is booming, and you do not have any questions on that," he asked. "You seem to be concerned only with fuel price hike." The economy grew at 7.9 per cent in the March quarter of 2015-16 and the government achieved the fiscal deficit target of 3.9 per cent of gross domestic product in FY16, although private investment remained sluggish and doubts loom over the quality of data.
The phased increase of prices is being done to sell the fuel at international prices
State refiners currently revise fuel prices every fortnight
State-owned OMCs dumped the 15-year old practice of revising rates on 1st and 16th of every month
The comments come amid criticism by opposition parties