The rates of petrol and diesel in Delhi increased by 80 paise a litre on Sunday. In Mumbai, petrol and diesel are selling at Rs 118.41 (increased by 84 paise) and Rs 102.64 (increased by 85 paise).
This is the eleventh hike in fuel rates in 13 days, the total hike now amounts to Rs 8. Petrol is now selling at Rs 103.41 per litre in Delhi and diesel is trading at Rs 94.67 per litre.
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers.
This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts.
Attacking the Union governemnt over rising fuel prices, senior Congress leader and former Finance Minister P Chidambaram on Sunday said the Modi government has collected over 26.5 lakh crore as fuel taxes and called on the people to ask themselves what an average family got in return for paying this huge amount as fuel tax.
His attack on the government came on a day petrol and diesel prices were again hiked by 80 paise a litre each, taking the total increase in rates in less then two weeks to Rs 8 per litre.
Taking to Twitter, Chidambaram said that in the eight years of the Modi government, the central government collected Rs 26,51,919 crore as fuel taxes.
“There are approximately 26 crore families in India. That means from every family the central government has collected, on average, Rs 1,00,000 as fuel tax!” the former Union finance minister said.
“Ask yourself, what did an average family get in return for paying this huge amount as fuel tax?” Chidambaram said.