Can GST council solve rate hike issue?; diesel price unchange for 13th day, check rates here
The Karnataka state will go for poll on May 12. Meanwhile, international crude oil prices have peaked near $75 per barrel highest since November 2014.
Diesel price in India today: Just like petrol prices, the state-owned OMCs have decided to keep rates of diesel prices unchanged for 13th consecutive day today. Many reports have indicated the upcoming Karnakata poll main reason for petrol price to remain unchanged. The Karnataka state will go for poll on May 12. Meanwhile, international crude oil prices have peaked near $75 per barrel highest since November 2014. Oil Minister Dharmendra Pradhan has appealed to GST council in bringing fuel prices under one-tax system.
There has been massive increase in diesel prices, which is why, metro cities and other state capitals have touched record highs, especially Mumbai, where it stood over Rs 70 per litre mark and now looks like Kolkata and New Delhi may also see prices at Rs 69 per litre and Rs 66 per litre mark respectively.
Recently Economic Affairs Secretary Subhash Chandra Garg reportedly said the government is not considering cutting excise duty on petrol and diesel yet as rates have not touched levels that could trigger such an action.
"The rise in petrol prices is not restricted to one state. The issue has been sent to GST Council which will take the decision eventually. I appeal to the council to bring this matter under it," Pradhan told members of the press at an event in Madhya Pradesh, reported by Zee News.
Diesel price in New Delhi: Diesel price in the national capital has neared to Rs 66 per litre-mark, as the product was available at Rs 65.93.
Diesel price in Kolkata: Similarly, diesel price was valued at Rs 68.63 per litre. Considering the limited room for reduction in diesel prices, Kolkata may soon become the third metro city to touch Rs 69-level.
Diesel price in Mumbai: Shockingly, the diesel price in Mumbai has reached to Rs 70.20 per litre-mark highest among metro cities.
Diesel price in Chennai: This city became the second metro to witness Rs 69-per litre mark after Mumbai. The price of the product stood at Rs 69.56 per litre.
Diesel prices in other state capitals: The product in Bangalore was available at Rs 67.05 per litre, Bhopal at Rs 69.38 per litre, Bhubaneswar at Rs 70.75 per litre, Chandigarh at Rs 64.01 per litre, Dehradun at Rs 66.22 per litre, Gandhinagar at Rs 70.81 per litre, Hyderabad at Rs 71.63 per litre, Jaipur at Rs 70.25 per litre, Lucknow at Rs 66.05 per litre, Patna at Rs 70.57 per litre, Raipur at Rs 71.20 per litre and Srinagar at Rs 69.24 per litre.
Moreover on Friday, U.S. light crude settled up $1.29 at $69.72 a barrel. It touched a session peak of $69.97 for the first time since November 2014. It was on track to gain just over 2.3 percent on the week. Brent crude oil settled up $1.25 at $74.87 a barrel. The global benchmark was set to end the week up 0.3 percent.