New Delhi: Countrywide fuel prices have been hiked today too. Petrol is now costlier by 25 paise and diesel 26 paise. With this, petrol price in Koch stands at RS 86.77 and diesel Rs 80.57.
In Thiruvananthapuram, the prices figure at Rs 88.58 and diesel at Rs 82.65. Notwithstanding Republic Day of Tuesday, petrol price was hiked yesterday by 35 paise and diesel by 37.
This incessant surge in fuel prices are a result of punitive rise in central government’s excise tax. The excise tax for diesel is now higher than its base price. According to IOC data, base price for petrol is Rs 28.13 and diesel Rs 29.19.
However, the excise tax on petrol amounts to Rs 32.98 and diesel Rs 31.83. Thus, combined with tax petrol prices figure at Rs 61.11 and diesel Rs 61.02. Add dealer commission to these and the resultant is retail prices that loot the public even as international crude prices ebb low.
