Gasoline and diesel prices rose for the sixth day in a row on Monday, as rates rose from 26 to 30 paise per liter. In reaction to this, BJP leader and Rajya Sabha MP, Dr. Subramanian Swamy, called it “a monumental exploitation by the Indian government of the people of the country.”
‘A monumental exploitation by the Government of India of the people of India’
“The price of gasoline at the refinery is Rs 30 per liter. All kinds of taxes and petrol pump commissions add up to the rest of Rs 60. In my opinion, gasoline should be sold at a maximum of Rs 40 per liter. “, wrote. On twitter. This is the first time that the price of gasoline surpassed the Rs 90 mark in Mumbai after 2018.
Gasoline price in Rs. 90 per liter is a monumental exploitation by the Government of India of the people of India. The ex-refinery price of gasoline is Rs. 30 / liter. All kinds of petrol pump taxes and commissions add up to the rest of Rs.60. In my opinion, gasoline should be sold to the maximum. Rs. 40 per liter.
– Subramanian Swamy (@ Swamy39) December 7, 2020
On Monday, the price of gasoline rose by 30 paise per liter and diesel by 26 paise, according to a price notice from oil trading companies. Gasoline rates in Delhi rose to Rs 83.71 per liter from Rs 83.41, while the price of diesel rose from Rs 73.61 to Rs 73.87 per liter.
Rates at the highest level since September 2018
This was the sixth consecutive day of price increases and the fifteenth rate increase since November 20, when oil companies resumed their daily price review after a nearly two-month hiatus. Rates are now at the highest level since September 2018.
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In 18 days, the price of gasoline has risen 2.65 rupees per liter and the diesel tariff has risen 3.41 rupees. The rate hike follows international oil prices that rose by a third from lows in late October. Brent crude oil is approaching $ 50 a barrel in hopes that COVID vaccines will lead to recovery in demand.
Prior to the November 20 rate hike in India, gasoline prices had been static since September 22 and diesel rates had not changed since October 2. In Mumbai, the price of gasoline rose to Rs 90.34 per liter from Rs 90.05, while diesel tariffs rose from Rs 80.23 to Rs 80.51. Rates vary from state to state depending on the incidence of local sales tax or VAT.
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(With PTI inputs)
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