Diesel prices have now increased for second consecutive day and three times in last four days taking up its retail price by 70 paisa per litre. It was raised on September 24 by 20 paisa per litre and again on Sunday by 25 paisa per litre.
Recently, the spike in global oil prices on demand-recovery pushed petrol and diesel prices to an all-time high, leading to demand for bringing it under the GST.
GST is being thought to be a solution for the problem of near-record high petrol and diesel rates in the country, as it would end the cascading effect of tax on tax.
The minister said he is looking forward to the industry for quick roll-out of E20-compatible vehicles. E20 is a blend of 20 per cent ethanol and 80 per cent petrol.
Global crude oil prices continue to decline.
Tamil Nadu Finance Minister Palanivel Thiaga made the announcement while presenting the state budget.
His attack came a day after the Lok Sabha was informed that the Union government's tax collections on petrol and diesel jumped by 88 per cent to Rs 3.35 lakh crore in the last fiscal.
The opposition meeting was attended by leaders of the Congress, TMC, NCP, CPI(M), CPI, IUML, RSP, Shiv Sena and the AAP.
Petrol and diesel prices were hiked by 20 paise each on Sunday.
As the central and state governments have no plans to cut the taxes and provide any relief to the people, the only way to save money on fuel is to drive economically or else one may have to look for the electric vehicles.