Delhi High Court to hear petition against rising fuel prices today

Fuel price continues to rise Petrol hits record high of Rs 80.73 in Delhi Rs 88.12 in Mumbai

Fuel price continues to rise Petrol hits record high of Rs 80.73 in Delhi Rs 88.12 in Mumbai

Diesel prices also continued to rise as it was sold at Rs 72.97 per litre in the national capital. All other opposition parties took part in the bandh.

Despite a nationwide bandh on Monday, the surge in fuel prices seen to offer no immediate respite.

Here, the prices of both diesel and petrol remain under Rs 80 per litre. "Alternatively, a $1/barrel increase in oil prices translates, on average, to a Rs 1,513-crore revenue gain for all the major 19 states", it mentioned. He said that the statement is far from the truth and misleads people.

Since mid-August, petrol price has been marked up by Rs 3.24 a litre and diesel by Rs 3.74 per litre as the rupee hit a record low against the United States dollar, making petroleum imports costlier.

The Chief Minister said that the crude oil price per barrel was United States $ 105.52 in 2013-14, went down to USA $ 46 in 2015-16 and stands at U.S. $ 72.23 at present. Naidu has announced that AP state is cutting down 2 percent on its excise duty on petrol and diesel. In Hyderabad, petrol costs Rs 85.75 and diesel Rs 79.37.

On the 15th day of consecutive hikes, petrol prices increased on Tuesday by Rs 0.14 and diesel by Rs 0.15, from 6 a.m, barely two days before the state's biggest 10-day Ganeshotsav festival begins. In Chennai, petrol costs Rs 84.05 and diesel Rs 77.13. Chandrababu has announced the decision today in Assembly bringing cheers among the common man. Naidu announced that AP would cut down its Value-Added Tax to give relief to people.

In her instant PIL, she prayed to the court to "declare the formula, mechanism, procedure being followed by the Respondent/Government in fixing the daily price of petrol and diesel unconstitutional, unlawful as the said "Daily Price" is not fair price as contemplated under Section 3 (1) of the Essential Commodities Act, 1955". The Chief Minister demanded that the central government reduce petrol and diesel prices immediately to protect the interests of the common man.

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