Fuel rate cut came 'too late', govt mopped up Rs 1 trn so far: Shiv Sena

The decision by the Centre and the Maharashtra government to reduce fuel prices has come too late, said Shiv Sena.

The reduction in fuel prices had come "too late", the Shiv Sena said Friday and claimed that the Centre had mopped up Rs 1 trillion per day when the rates of petrol and diesel were being increased daily.

It also slammed Maharashtra Chief Minister Devendra Fadnavis for his reported remark that he was "ready to mortgage the state in Dr B R Ambedkar's service".

The government Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices by reducing excise duty and asking PSU oil firms to take a hit of Rs 90 billion, a step that was matched by BJP-ruled states by slashing VAT so as to double the reduction in retail rates.

"The decision by the Centre and the Maharashtra government to reduce fuel prices has come too late. The increase in fuel prices daily in the past has led to a deposit of Rs 1 trillion everyday in the country's coffer," the Sena said in an editorial in its mouthpiece Saamana.

ALSO READ: Modi govt blinks, reduces petrol and diesel prices by Rs 2.5 a litre

If the Centre grants Rs 50 billion to Rs 100 billion out of the mopped up funds for the memorial of Maratha warrior king Chhatrapati Shivaji and Dr B R Ambedkar, the chief minister would not have to mortgage the state, it said in a broadside against Fadnavis.

During the foundation day of the Ramdas Athawale-led Republican Party of India (A) in Thane on Wednesday, Fadnavis reportedly said the Congress built statues of (former prime ministers) Indira Gandhi and Rajiv Gandhi but did not care to give due respect to Ambedkar and build his memorial.

Fadnavis said Ambedkar represented social justice, equality and humanity, and that he was "ready to mortgage the state" in service of the architect of the Constitution.

Reacting to his remark, the Uddhav Thackeray-led party demanded that the government cut down on spending thousands of crores on advertisements. It also asked why the money "used by BJP to win elections" could not be used for the memorial, instead of mortgaging the state.

"Had Babasaheb Ambedkar been alive today, he would have lifted a lathi (stick) against those in power who are talking about mortgaging the state. At least they have now conceded that the state's economical condition is weak and festivals are celebrated with borrowed money," it said.

              

"It is surprising to see the rain of announcements at a time when the state's coffers are empty," said the Sena, which is an ally of the BJP at the Centre and in Maharashtra.

Business Standard

Petrol, diesel prices unchanged: Check today's rates in Delhi, Mumbai

Petrol and diesel prices have been witnessing a steep rise since the past few weeks.

Petrol and diesel prices were kept unchanged on Wednesday after reaching record levels in the last few days continuously.

As the fuel prices are same as on Tuesday, a litre of petrol continues to cost Rs 90.22 in Mumbai and Rs 82.86 in Delhi. Similarly, diesel continues to be retailed at Rs 74.12 per litre in Delhi and Rs 78.69 per litre in Mumbai.

Keeping the people's suffering in mind, the West Bengal government on September 11 reduced the excise on petrol and diesel by Re 1 per litre each last week. Later, the Karnataka government had also declared that the petrol and diesel prices across the state would be cheaper by Rs 2 per litre each, following the reduction in cess on these fuels.

As per India's pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.

Fuel prices have been witnessing a steep rise since the past few weeks. While the Opposition has repeatedly blamed the Union government for not doing enough to keep a check on prices, the latter has always maintained that global crude oil prices and other international factors are causing a hike in prices of petroleum products....Read More

Business Standard

Petrol and Diesel Price Hike: After six days of consecutive hikes, rising fuel prices come to a halt

West Bengal Chief Minister Mamata Banerjee on Tuesday announced that her government will reduce the state tax on petrol and diesel by Re 1 per litre.

It was on Wednesday last week (September 5) that petrol and diesel prices did not see a hike after a back to back increase since August 26. From September 6 onwards, fuel prices continued with the upward run on a daily basis and again it's on Wednesday today that Petrol and diesel prices have come to a halt after six days of a continuous hike.

Petrol costs Rs 80.87/litre in Delhi and Rs 88.26/litre in Mumbai, Rs 88.26/litre in Kolkata and Rs 84.05/litre in Chennai.

Similarly, diesel remains at Rs 72.97/litre in Delhi, Rs 75.82/litre in Kolkata, Rs 77.47/litre in Mumbai and Rs 77.13/ litre in Chennai as September 12.

Petrol prices on Tuesday had touched Rs 90.11 per litre in Maharashtra's Parbhani. Diesel prices had also increased from Rs 77.92 on Monday to Rs 78.06 on Tuesday.

At least 20 Opposition parties led by Congress staged a Bharat Bandh across the country on Monday to protest against the rising fuel prices and falling value of the rupee.

ALSO READ: Fuel on Fire: Indian states make a killing on taxes as citizens suffer

Opposition parties like the Janata Dal-Secular (JD-S), Samajwadi Party (SP), Bahujan Samaj Party (BSP), Dravida Munnetra Kazhagam (DMK), Rashtriya Janata Dal (RJD), Nationalist Congress Party (NCP) and Maharashtra Navanirman Sena (MNS), led by the Congress party, took part in the protests. Left parties staged a separate shutdown of their own.

Other parties such as Trinamool Congress, Aam Admi Party and Biju Janata Dal voiced their concerns over the price hike, however, they stayed away from the street protests called by the Congress.

Meanwhile, Rajasthan government announced a 4 per cent cut in the state VAT on petrol and diesel on Sunday to reduce their prices by Rs 2.5 per litre in the state, while Andhra Pradesh government on Monday announced a reduction of tax on petrol and diesel by Rs 2 a litre, to reduce the burden on common caused by zooming fuel prices. Similarly, West Bengal Chief Minister Mamata Banerjee on Tuesday announced that her government will reduce the state tax on petrol and diesel by Re 1 per litre.

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Petrol at Rs 80.87, diesel at Rs 72.97 in Delhi after a 14 paise hike today

At least 20 Opposition parties led by Congress staged a Bharat Bandh across the country on Monday to protest against the rising fuel prices and falling value of the rupee.

Petrol and diesel prices saw a hike for the sixth straight day on Tuesday as oil marketing firms again revised fuel prices across the country. Petrol prices were hiked by 14 paise in both Delhi and Mumbai, while diesel saw an increase of 14 paise in Delhi and expanded by 15 in Mumbai.

Petrol now costs Rs 80.87 per litre, up from Rs 80.73, in Delhi and Rs 88.26 per litre, up from Rs 88.12, in Mumbai. Similarly, Diesel prices have been increased from Rs 72.83 to Rs 72.97 per litre in Delhi and from Rs 77.32 to Rs 77.47 in Mumbai.

Rising fuel prices in the country have been an issue of friction between the government and the opposition parties for the past couple of days.

Opposition parties are demanding a cut in the excise duty on petrol and diesel and bringing fuel under the ambit of GST.

At least 20 Opposition parties led by Congress staged a Bharat Bandh across the country on Monday to protest against the rising fuel prices and falling value of the rupee.

Opposition parties like the Janata Dal-Secular (JD-S), Samajwadi Party (SP), Bahujan Samaj Party (BSP), Dravida Munnetra Kazhagam (DMK), Rashtriya Janata Dal (RJD), Nationalist Congress Party (NCP) and Maharashtra Navanirman Sena (MNS), led by the Congress party, took part in the protests. Left parties staged a separate shutdown of their own.

ALSO READ: Closed chapter: Bandhs are no longer a useful protest technique

Other parties such as Trinamool Congress, Aam Admi Party and Biju Janata Dal voiced their concerns over the price hike, however, they stayed away from the street protests called by the Congress.

Later, amid the constant rise in the prices of petrol and diesel, BJP president Amit Shah on Monday met Oil Minister Dharmendra Pradhan, PTI reported.

Meanwhile, Rajasthan government announced a 4 per cent cut in the state VAT on petrol and diesel on Sunday to reduce their prices by Rs 2.5 per litre in the state, while Andhra Pradesh government on Monday announced a reduction of tax on petrol and diesel by Rs 2 a litre, to reduce the burden on common caused by zooming fuel prices.

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Petrol, diesel prices up by around 50 paise: Check rates in Delhi, Mumbai

Opposition parties will launch nationwide strikes and protests next week over record-high petrol and diesel prices.

Petrol and diesel prices reached a new unprecedented level on Friday after oil marketing companies announced a sharp hike on Friday.

In Delhi, petrol rose 48 paise to be sold at Rs 79.99 per litre. With a similar hike, petrol in Mumbai is priced at Rs 87.39 per litre.

Diesel prices saw an even bigger hike on Friday. While in Delhi, prices rose by 52 paise, in Mumbai, the rates went up by 55 paise.

The fuel is retailing at Rs 72.07 and Rs 76.51 per litre in Delhi and Mumbai respectively.

Except for a halt on Wednesday, petrol and diesel rates have gone up every day since 26 August. Overall, petrol and diesel prices have gone up by Rs 2.32 and Rs 2.75 respectively in Delhi, since then.

Opposition parties will launch nationwide strikes and protests next week over record-high fuel prices.

ALSO READ: Govt rules out excise duty cut, even as petrol prices hit Rs 79.15 in Delhi

The Congress has accused the government of "fuel loot" that it said had raised Rs 11 trillion ($152 billion) for the exchequer since Modi came to power in 2014.

"The mismanagement of the economy has led to high fuel prices," senior Congress leader Ashok Gehlot said. "When fuel prices were rising during (the previous government), taxes were reduced to take the burden off people."

Congress said all "like-minded opposition parties" had agreed to join the protest to demand fuel price cuts. The parties called for a general strike and demonstrations across the country.

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