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In the last few weeks and recently, the fuel prices witnessed a rapid growth. Comparatively, they have touched the four-year high value with both petrol and diesel.
As expected by many, it could hamper recorded growth by auto industry altogether we can witness an extra on prices of thing be used in daily life. FY 2017-18 has been a great year for the Indian automotive industry, the easy availability of resources to the customers made the Industry to see impressive growth numbers.
The Indian oil companies adopted the concept of dynamic pricing in order to pass on the maximum benefit on both the petrol and diesel. For the first few months, when the international pricing was low, the oil companies keep on supplying the same, that was beneficial for the customers. Later on, prices get to increase and the Indian companies passed that hike also according to the above-mentioned concept.
| City (State) | Petrol/Ltr | Diesel/Ltr |
|---|---|---|
| Delhi | INR 73.98 | INR 64.85 |
| Kolkata (West Bengal) | INR 76.69 | INR 67.54 |
| Mumbai (Maharashtra) | INR 81.83 | INR 69.06 |
| Chennai (Tamil Nadu) | INR 76.75 | INR 68.41 |
Current petrol price in Mumbai (INR 81.83 per liter) that is at the peak value of the last four years, is the best example of the passing of regular changes in price.
Furthermore, the earlier increased excise duty by the Indian government also affecting the prices of both the petrol and diesel as the scenarios now are different as compared to the time when the decision of increasing excise duty taken.
| City (State) | Petrol/Ltr | Diesel/Ltr |
|---|---|---|
| Agartala (Tripura) | INR 69.80 | INR 62.96 |
| Aizawl (Mizoram) | INR 69.93 | INR 62.21 |
| Ambala (Haryana) | INR 74.11 | INR 65.35 |
| Bangalore (Karnataka) | INR 75.15 | INR 65.94 |
| Bhopal (Madhya Pradesh) | INR 79.52 | INR 68.24 |
| Bhubaneswar (Odisha) | INR 72.82 | INR 69.58 |
| Chandigarh | INR 71.14 | INR 62.96 |
| Daman (Daman & Diu) | INR 71.88 | INR 65.55 |
| Dehradun (Uttarakhand) | INR 75.82 | INR 65.20 |
| Gandhinagar (Gujarat) | INR 73.30 | INR 69.64 |
| Gangtok (Sikkim) | INR 76.95 | INR 66.60 |
| Guwahati (Assam) | INR 76.06 | INR 67.68 |
| Hyderabad (Telangana) | INR 78.35 | INR 70.46 |
| Imphal (Manipur) | INR 72.11 | INR 62.98 |
| Itanagar (Arunachal Pradesh) | INR 70.00 | INR 62.23 |
| Jaipur (Rajasthan) | INR 76.69 | INR 69.15 |
| Jammu (J&K) | INR 75.77 | INR 66.04 |
| Jalandhar (Punjab) | INR 79.17 | INR 64.86 |
| Kohima (Nagaland) | INR 72.46 | INR 63.24 |
| Lucknow (Uttar Pradesh) | INR 75.32 | INR 65.04 |
| Panjim (Goa) | INR 68.15 | INR 65.96 |
| Patna (Bihar) | INR 79.49 | INR 69.47 |
| Pondicherry | INR 72.79 | INR 66.97 |
| Port Blair (Andaman & Nicobar) | INR 63.85 | INR 60.88 |
| Raipur (Chhattisgarh) | INR 74.43 | INR 70.04 |
| Ranchi (Jharkhand) | INR 74.48 | INR 68.51 |
| Silvassa (Dadra & Nagar Haveli) | INR 71.95 | INR 65.61 |
| Shillong (Meghalaya) | INR 73.40 | INR 64.67 |
| Shimla (Himachal Pradesh) | INR 74.13 | INR 64.49 |
| Srinagar (J&K) | INR 78.37 | INR 68.17 |
| Trivandrum (Kerela) | INR 77.93 | INR 70.37 |
Another example of diesel price in Mumbai (INR 69.06 per liter) will help you easily understand that why everything gets costlier every day. A few weeks ago, the prices were completely different in Delhi or even in Chandigarh.
The excessive duties are letting every fulfilling their dream in order to attain affordable everyday commodities. Six months earlier, the Indian government announced the cut in excise duty and the time when it is being more aggressive it is the right time to make another.
Note: Infact GST council is also considering to include petrol and diesel under the ambit of Goods and services which may further take the control of prices to certain extent.
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