New Delhi: Petrol and diesel prices are at their historic highs across the country. Petrol is selling across Rs 110 per litre in many cities. There are many states where diesel prices have also crossed Rs 100. Meanwhile, the Narendra Modi government at the Centre is facing criticism from all sides over expensive oil. The opposition is constantly aggressive about oil prices and protests are taking place at different places across the country.
The Central Government, which has been targeted by the opposition over the price hike of various petroleum products amid a fight over oil prices, said there has been no increase in tax on petrol and diesel by the Central Government in the last year. This was stated by Petroleum and Natural Gas Minister Hardeep Singh Puri in a written reply to a question in the Upper House. It is worth noting that petrol prices have gone up by Rs 32 per litre since April 2020. Puri said the central government has not increased the tax on petrol and diesel in the last year. Hardeep Puri further said that the increase in retail sales prices of petrol and diesel is due to high international product prices and an increase in VAT collected by various state governments due to an increase in the base price. He said the government is raising the issue of volatility in the international price of crude oil, petrol and diesel in the various international forums.
The Union Minister said that the prices of petrol and diesel have been made market determined from 26th June 2010 and 19th October 2014 respectively. Since then, public sector oil marketing companies have decided on the pricing of petrol and diesel based on international product prices and other market conditions. According to Puri, petrol and diesel prices have been raised by oil marketing companies based on changes in international prices and rupee-dollar exchange rates.
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