Petrol, diesel price rise for 7th consecutive day, LPG hike also effective now

Retail fuel prices climbed again for the seventh consecutive day reaching new highs on February 15 in cities across the country.

The petrol price in Delhi was hiked by 26 paise reaching Rs. 88.99 per litre as compared to Rs 88.73 per litre on February 14, according to state-owned fuel retailers. Diesel price in the national capital also touched a new high at Rs 79.35, increasing 29 paise from the previous day.

In Mumbai, the prices rose to Rs 95.46 per litre and Rs 86.34 per litre for petrol and diesel respectively.

Meanwhile, automobile owners in Chennai shell out Rs 91.19 per litre and Rs 84.44 per litre of petrol and diesel. The prices in Kolkata reach Rs 90.25 per litre for petrol and Rs 82.94 per litre for diesel.

The difference in prices in states stem from local and VAT taxes imposed in states. Oil Minister Dharmendra Pradhan had ruled out the possibility of a reduction in taxes on petrol and diesel in order to reduce prices.

"There is no such proposal at present," he said in Rajya Sabha. He added that taxes are increased or decreased depending on several factors like the requirement of the government and market situation.

There is a price hike for cooking gas or liquefied petroleum gas (LPG) by Rs. 50, effective from February 15, news agency ANI reported yesterday. As per the revised rate, a cooking gas cylinder of 14.2 kg would cost Rs 769 in Delhi.

The subsidy on LPG for listed beneficiaries is transferred directly into their bank accounts by the central government.