Petrol and diesel prices have risen above four-year high. Petrol price was 78.08 rupees, while diesel price was Rs 70.16 and 2014 is the highest since September 2014.
Petrol price was 78.08 rupees and diesel at Rs 70.19. The increase in crude prices in international oil prices is due to the hike in fuel prices. In 2014, it was $ 115 a barrel. Fuel prices have risen since 2017.
On November 1, 2017, petrol price was Rs 73.21 per liter and diesel at Rs 62.72.
On December 1, 2017, the price increased to Rs 73.24.
On January 1, 2018, it was raised to Rs 74.04 and to Rs 64.81.
On January 25, 2018, the price will be Rs 76.61 and Rs 68.72 respectively.
On February 1, petrol price is 77.21 a liter and diesel at 69.51 rupees.
In March, petrol price was reduced by Rs 75.71 a liter and diesel at Rs 67.56 a liter in March.
By the end of March, the price began to rise again.
Earlier this year, the central government had directed the excise duties on petrol and diesel. But Finance Minister Arun Jaitley has ignored his budget on February 1 to increase the impact of the international budget.
Excise duties excise duty between November 2014 and January 2016. In October last year, global oil prices slumped to Rs 2 per liter. Following the excise duty reduction, States demanded VAT cuts, but reduced the number of Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh to four.