Petrol, diesel prices go up for 13th day in a row; Centre says working on reducing people's woes

Petrol, diesel prices hiked for 13th day straight; Centre says working on reducing people's woes

Thiruvananthapuram: State-run oil marketing companies (OMCs) have increased the price of petrol and diesel for the 13th straight day on Saturday. The petrol and diesel prices were increased by 39 paise each.

In the state capital, the price of one litre petrol is now at Rs 92.46, while diesel is being sold at Rs 87.01 per litre. In Kochi, the rates are Rs 90.74 for petrol and Rs 85.40 for diesel.

In February alone, petrol price was hiked by Rs 3.87 and diesel by Rs 4.30 per litre, , a record since the pricing was deregulated in 2010.

The increase follows a spurt in prices of oil in the international market, on which India is 85 per cent dependent to meet its needs.

Petrol price has already surged past the Rs 100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel. Retail pump prices defer from state to state depending on the local taxes (VAT) and freight.

Prabhu on fuel prices

Meanwhile, Former Union minister Suresh Prabhu on Friday said the Central government is taking all efforts to reduce the problems faced by the common man due to the rising fuel prices.

He also suggested that the Centre and state governments can come together to find a way to reduce taxes on fuel. Prabhu was addressing a press conference in Nagpur.

Replying to a query on the rising fuel prices, he said that the petroleum prices are rising continuously as 70 per cent of our fuel needs are dependent on the import of oil.

"Besides, when fuel prices increase globally it impacts our prices also. However, the government is taking efforts to ensure that this burden does not fall on the common man," he said.

According to him, Prime Minister Narendra Modi has initiated the work of generating one lakh MW of solar energy and 70,000 MW wind energy.

"This will bring a big change in our energy profile, improve our energy security and reduce our imports. I am not justifying the rise in petrol prices, but telling you the situation. The government is taking efforts to reduce the problems faced by the public due to rise in fuel prices, he said.

He further said that various taxes are imposed on imported fuel by the Central government as well as state governments because petroleum products do not comes under GST. "Otherwise only one tax would have been applicable on fuel," the former railway minister said.

"If the fuel prices are to be reduced, then taxes imposed by the Centre and state governments will have come down. Hence both central and state government can come together to think on formulating a way in interest of the common man," he added.

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