Petrol price now highest in four years, diesel price hits all time high

By : EP Web Desk

Petrol prices have hit a four year high. On Sunday, the petrol prices touched a new high of Rs 73.73 a litre in Delhi. Diesel prices also soared to Rs 64.58 per litre.

In Uttar Pradesh, the petrol prices were even higher. In Lucknow and Kanpur, one litre petrol was available for Rs 74.87. This was the highest cost of per litre of petrol in past several years.

Diesel price in the two cities was also on a steep rise. For one litre of diesel, one was required to pay Rs 64.54

State-owned firms had been revising fuel prices daily since June last year. It is due to this fact that the prices of both petrol and diesel had touched a new high, trigerring dis-satisfaction among the people.

This has once again renewed the demand for slashing down the excise tax rate to bring down the petrol and diesel prices.

Finance Minister Arun Jaitley earlier this year had turned down the request from the Oil Ministry for reduction in the excise duty on petrol and diesel prices.