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Petrol, diesel prices remain stable for 2nd consecutive day, four states cuts tax to reduce fuel price

While the fuel prices remained stable for the second day, Chairperson of the Congress Party Sonia Gandhi has written to Prime Minister Narendra Modi over the rising fuel prices.

February 22, 2021 / 10:26 AM IST

Retail fuel prices remained stable for the second consecutive day in metro cities after it saw a hike for the 12 days since February 9.

The petrol price in Delhi remained at Rs. 90.58 per litre today (February 22) same as yesterday, according to state-owned fuel retailers. Diesel price in the national capital was also stable at Rs. 80.97 per litre.

In Mumbai also the prices remained at Rs 97 per litre and Rs 88.06 per litre for petrol and diesel respectively. Meanwhile, automobile owners in Chennai shell out Rs 92.59 per litre and Rs 85.98 per litre of petrol and diesel. The prices in Kolkata reach Rs 91.78 per litre for petrol and Rs 84.56 per litre for diesel.

While the fuel prices remained stable for the second day, Chairperson of the Congress Party Sonia Gandhi has written to Prime Minister Narendra Modi over the rising fuel prices. She urged him to "reduce the fuel prices by partially rolling back excise duty."

However, Finance Minister Nirmala Sitharaman called the fuel price hike a "vexatious issue", which required dialogue between the Centre and the states to relieve the consumers. The finance minister pointed out that both the Centre and the states had been generating revenue through the retail sale of petrol and diesel.

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Explaining the reason behind the fuel price hike in India, Union Petroleum Minister Dharmendra Pradhan said on February 21 that the recent output cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and the outbreak of COVID-19 are the main reasons behind it.

While there has been no relief from the centre, four states have cut prices to help provide some respite to consumers. Following tax cuts in Rajasthan, Meghalaya and Assam, West Bengal became the latest state on February 20 to announce a reduction in VAT by Re 1 on petrol and diesel.

Earlier, Rajasthan had reduced VAT from 38% to 36% on January 29, Assam withdrew on February 12, an additional tax of Rs 5 imposed last year in the wake of the pandemic. Meghalaya Chief Minister Conrad Sangma had also announced that the state will cut down the fuel prices by approximately Rs. 7 per litre.

[Input from agencies]
Moneycontrol News
first published: Feb 22, 2021 10:26 am

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