The Price hike on petrol have posed certain drawbacks for the common people. At the recent the petrol price have breached to Rs 100.07 per litre mark and diesel to Rs. 92.42.
Over the last several weeks, the zooming petrol prices in some Indian cities have surpassed Rs 100 per litre, fuelling inflation and putting strain on household finances.
While rising worldwide fuel prices can partially explain the rise in petrol and diesel prices, the high incidence of taxes on these items also plays a significant influence.
On Sunday, gasoline and diesel prices were raised for the sixth day ina row across the country.
Despite rising worldwide costs, the Modi administration and states have been hesitant to reduce rates because these levies are a key source of revenue.
Both sides have been passing the buck on fuel tax reduction in recent months, refusing to make the first move to lower taxes. The surge in fuel prices has added to India’s inflationary pressures.
According to a price notification from state-owned fuel merchants, the price of petrol has increased by about 30 paise per litre and the price of diesel has increased by about 35 paise per litre.
Petrol diesel price in Guwahati Assam is Rs. 100.07 and Diesel price is Rs. 92.42 Per Litre as on 10 Oct, 2021.Prices vary by state, based on the amount of local taxes levied.
India imports most of its oil to suit its local demand. While international crude costs have climbed dramatically in the last six months, excessive local taxes are a big factor in the high selling price of gasoline.
The rise in fuel prices in Assam increased exponentially on Sunday, burning a hole in the purses of ordinary people whose monthly budgets are already being squeezed by the Covid-19 pandemic’s impact.
In a few Assam districts, petrol has surpassed the 100-rupee barrier, while in other parts of the state, it is likely to do so.