Petrol and diesel prices across the country remained unchanged for the 16th consecutive day on March 15. The prices were last revised on February 27, touching new highs.
Since then, the price of petrol and diesel in New Delhi remained unchanged at Rs 91.17 per litre and Rs 81.47 per litre, respectively, according to the Indian Oil Corporation Limited (IOCL). In Mumbai, the price of petrol is Rs 97.57 per litre. The price of diesel stood at Rs 88.60 per litre.
Union Minister for Petroleum and Natural Gas, Dharmendra Pradhan, termed the hike in prices of petrol and diesel as "temporary" and will be reduced gradually.
“Due to the rise in international fuel prices, India also had to increase fuel prices but it is temporary. Gradually they will be brought down. We are in talks with the oil-producing countries to reduce the prices,” Pradhan told ANI on March 13.
He added that these taxes are “resources” which “help” the Centre and states in reviving the economy, “especially in the situation created by COVID-19”.
Following the economic hit due to the coronavirus pandemic, the government has twice hiked taxes on petrol and diesel in the last 12 months to increase the revenue collection rather than passing on the benefit of low prices to consumers, ANI said in another report.
The retail prices of petrol and diesel had hit the three-figure mark in February in Rajasthan’s Sri Ganganagar and Anuppur, Madhya Pradesh.
Meanwhile, the prices of petrol and diesel in Chennai stood at Rs 93.11 and Rs 86.45 per litre, respectively. The price of petrol and diesel in Kolkata was stable at Rs 91.35 per litre and Rs 84.35 per litre, after the poll-bound state of West Bengal cut the state value-added tax (VAT) by Re 1 on February 20.
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