Petrol touches Rs 80.51 per litre mark in city

Source: The Hitavada      Date: 23 Jan 2018 10:31:19


Business Bureau,

Petrol and Diesel prices
Date                   Petrol (per litre)            Diesel (per litre)
June 30, 2017        Rs 74.29                          Rs 59.30
July 15, 2017         Rs 74.24                          Rs 59.31
July 31, 2017         Rs 75.46                          Rs 60.01
Aug 15, 2017        Rs 78.09                           Rs 61.79
Aug 31, 2017        Rs 79.41                           Rs 61.52
Sep 15, 2017        Rs 79.97                           Rs 62.94
Sep 30, 2017        Rs 80.20                           Rs 63.01
Oct 15, 2017        Rs 75.97                           Rs 60.05
Oct 3, 2017          Rs 76.76                           Rs 60.86
Nov 15, 2017        Rs 77.31                           Rs 61.52
Nov 30, 2017       Rs 77.05                            Rs 61.65
Dec 15, 2017       Rs 77.29                            Rs 62.01
Dec 31, 2017       Rs 78.39                               Rs 63.34

Jan 15, 2018 Rs 79.66 Rs 66.19 Jan 22, 2018 Rs 80.51 Rs 67.55

THE consumers got a very big surprise as petrol prices over the past few days had crossed over the Rs 80 per litre mark. On Monday, prices of petrol was being quoted at Rs 80.51 per litre and diesel at Rs 67.55 per litre. Due to skyrocketing fuel prices reaching unpredictable levels, the consumers have no choice but to silently suffer and put their hands in deep pockets and pay through their nose.
“The petrol and diesel prices are witnessing a steep hike due to rising international oil prices,” said Amit Gupta, President of Vidarbha Petroleum Dealers Association (VPDA) while talking to The Hitavada on Monday.

Consumers are not liking the situation and the steep rise in petrol and diesel prices has put a dent in their monthly budgets. India imports about 80 per cent of its fuel requirement and has to make payment in foreign exchange. The fuel import bill is huge and drains the forex reserves of the country. One consumer was saying that the last time he remembered paying Rs 80 per litre for petrol was when the international oil prices had crossed the $130 per barrel mark.

The Ministry of Petroleum has adopted a complex strategy to systematically and gradually raise fuel prices through the dynamic price system. To make matters worse, the State and Central governments have imposed heavy taxes on petrol and diesel in order to raise a huge amount of revenue. Raju Tidke, an electrical contractor, said he was concerned over the alarming situation.

He said that if the international oil prices gradually kept on increasing, the domestic petrol and diesel prices just might hit the Rs 100 per litre milestone. He said that the rise in fuel price was affecting his business and threatening his livelihood.

“There seems to be a big discrepancy between the domestic and international oil prices. The Government should intervene and quell the situation,” he suggested.