Petrol and diesel prices have hit an all-time high. This is the highest when compared to last 4 years it is reported. The petrol is priced at Rs73.73 a litre while diesel is priced at Rs64.58 a litre. Both the fuels are costing up by 18 paisa per litre in Delhi which is very high.
The oil Ministery has suggested the Finance Minister reduce the excise duty so that the prices of fuels can be reduced to some extent benefitting the customers.
But the Finance Minister Arun Jaitley has ignored all this.India has the highest retail prices of petrol and diesel among the South Asian Nations it is observed.
The taxes are high in India and the Pump rates are also high leading to hike in the fuel prices. The Modi government could not control the fuel and LPG prices and they are climbing by the day when compared to the UPA government.