Published: Wed, September 12, 2018
Economy | By

Delhi High Court to hear petition against rising fuel prices today

Delhi High Court to hear petition against rising fuel prices today

It is reported that Petrol price would be cut by Rs 2 per litre.

On Monday, the ruling Bharatiya Janata Party termed the hike in petroleum products as a "momentary difficulty" owing to an worldwide crisis after the Opposition parties in the country observed a Bharat Bandh, to protest the skyrocketing fuel prices.

Not just non-ruling parties, but also the ruling Telugu Desam Party is supporting today's bandh. He extended his support to the nationwide protest against rising fuel prices. In Bengaluru, the price of petrol is Rs 83.51 and that of diesel is Rs 75.32.

The calculation is based on the assumption that for FY19, crude averages at $75 a barrel and the exchange rate at Rs 72, SBI Research said. While on purchase of 25,000 litres of diesel the buyer can get an automatic washing machine, they can get a split AC or a laptop on purchase of 50,000 litres. Naidu has announced that AP state is cutting down 2 percent on its excise duty on petrol and diesel. The central government charges an excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. In addition, the central government imposed additional burden of Rs 7 on petrol and Rs 8 on diesel in the name of infrastructure tax.

However, the court asked the government to consider an earlier representation pending before it on price rise of petrol and diesel and listed the matter for further hearing on November 16.

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".

Recently, Andhra Chief Minister Chandrababu Naidu, who parted ways from the NDA, launched a scathing attack at the Centre during a Politburo meeting in Telangana.

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