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Paisa Relief on Petrol Price: Twitter 'Petrolls' Modi

31 May, 2018, 18:33 | Author: Samuel Sharp
  • Petrol, diesel price cut by 1 paisa a litre

But the party was too short-lived as the price cuts were reversed within hours, with an explanation that it was a clerical error.

A "technical glitch" on the website of Indian Oil Corporation (IOC) led to a huge criticism of the government on Wednesday.

Gandhi said the one paisa cut in petrol rates was not a "suitable response" to the fuel challenge he threw to the prime minister a few days ago.

Unless you've been driving a rock Flinstone style, you'll probably know that a massive fuel price hike was imposed upon the country. A litre of diesel in Delhi now costs Rs 69.25, down from Rs 69.30.

The government is, however, unlikely to pass on the full impact worked out by the regulator in view of this being the last price adjustment of its tenure. The Centre was roasted on social media and Congress President Rahul Gandhi called it a "cruel joke". Meanwhile, on Wednesday evening Kerala took the 1 paisa cue and turned it into a real Re 1 a litre relief for its people. The government also received Rs20 tax on petrol while Rs30 on diesel.


Global crude prices have, however, fallen by about $5 per barrel to around $75 a barrel in the last fortnight. State finance minister Thomas Isaac announced the decision during a TV interview.

The Modi government has raised the excise duty on diesel by 343 per cent from Rs 3.46 in May 2014, when it came to power, to Rs 15.33 per litre now.

The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: 85.65; Kolkata: 80.47 and Chennai: 80.80. State govt to forego revenue of Rs 500 crore annually.

Since petrol and diesel remain outside the ambit of Goods and Services Tax, states also levy hefty sales tax and value added tax (VAT).

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