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Petrol, diesel prices rise for ninth consecutive day, Meghalaya cuts prices by Rs. 7

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Meghalaya Chief Minister Conrad Sangma said that the state will cut down the fuel prices by approximately Rs. 7 per litre.

Representative image (Source: Reuters)

Retail fuel prices climbed again for the ninth consecutive day reaching new highs on February 17 in cities across the country.

The petrol price in Delhi was hiked by 25 paise reaching Rs. 89.54 per litre as compared to Rs 89.29 per litre on February 16, according to state-owned fuel retailers. Diesel price in the national capital also touched a new high at Rs 79.95, increasing 25 paise from the previous day.

In Mumbai, the prices rose to Rs 96 per litre and Rs 86.98 per litre for petrol and diesel respectively.Meanwhile, automobile owners in Chennai shell out Rs 91.68 per litre and Rs 85.01 per litre of petrol and diesel. The prices in Kolkata reach Rs 90.78 per litre for petrol and Rs 83.54 per litre for diesel.

The difference in prices in states stems from local and VAT taxes imposed in states. Oil Minister Dharmendra Pradhan had ruled out the possibility of a reduction in taxes on petrol and diesel in order to reduce prices.Meghalaya Chief Minister Conrad Sangma said that the state will cut down the fuel prices by approximately Rs. 7 per l "There is no such proposal at present," he said in Rajya Sabha. He added that taxes are increasedor decreased depending on several factors like the requirement of the government and market situation.

"Both prices of petrol and diesel will be reduced by approximately ₹7. It is being done primarily to ensure that the consumers are not affected by the high prices in order to give some relief to them," said the Chief Minister while speaking to media persons.

The Chief Minister added that the step was taken as the consumers are affected. He further noted that despite the fact that the state is facing financial issues and the VAT collected "from petrol and diesel has helped the state in difficult times of COVID-19, the government has decided that we will be reducing the VAT for petrol and diesel."

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