In a press conference Wednesday, Congress leader Rahul Gandhi accused the Centre of earning Rs 23 lakh crore in the past 7 years by increasing the prices of gas, diesel and petrol.
Petrol price was increased by 35 paise per litre, while diesel rates were increased by 17 paise a litre. This is the 36th hike in price of petrol since 4 May this year.
Petrol prices, which have already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the barrier in Mumbai on Saturday.
While revenue gains from taxes on retail fuel are key for India to boost spending, RBI sees those levies, along with elevated crude prices, already pushing core inflation higher.
Fuel prices had risen for 12 straight days before hitting a two-day pause button on 21 and 22 February. The increase follows a spurt in oil prices in the international market.
Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a Covid vaccine development led to a rally in international oil prices.
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