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Excise duty is nothing but politics at the pump and a result of the recent by-polls as per ex-finance minister P Chidambaram.
The former Union minister also said the government&rsquo;s move was a confirmation of the Congress&rsquo; charge that fuel prices were high mainly because of high taxes.
&ldquo;And our charge that high fuel taxes is because of the greed of the central government,&rdquo; he further wrote.
On the eve of Diwali, The Centre decided to cut excise duty on petrol and diesel by record amounts of ₹5 and ₹10, respectively, per litre, to bring down their rates from the highest-ever record levels. 
To further put things into a perspective with the cut in fuel prices: - petrol prices have been up by ₹30 since 2020 Diwali.- Petrol prices saw a hike on 27 of the previous 34 day- Between March 2020 and May 2020, Excise duty was raised by ₹13 - Even with the cut the Excise duty is up ₹ 8 vs 2019 and is at Rs 27.9 per litre on petrol- The central excise duty on petrol in 2014 was ₹ 9.48 per litre, it has been up 3 times since then

Politics at the petrol pump says Chidambaram on excise duty cut

Excise duty is nothing but politics at the pump and a result of the recent by-polls as per ex-finance minister P Chidambaram.

P Chidambaram on reduced excise duty on petrol and diesel

&nbsp;
<ul>
<li>Excise duty cut on fuel by-product of bypoll outcome, says P Chidambaram</li>
<li>Chidambaram: Centre's move a confirmation of fuwl&nbsp;prices high because of high taxes</li>
<li>Central govt reduces excise duty on petrol and diesel</li>
</ul>

On the eve of Diwali, The Centre decided to cut excise duty on petrol and diesel by record amounts of ₹5 and ₹10, respectively, per litre,

Excise duty is nothing but politics at the pump and a result of the recent by-polls as per ex-finance minister P Chidambaram.
The former Union minister also said the government&rsquo;s move was a confirmation of the Congress&rsquo; charge that fuel prices were high mainly because of high taxes.
&ldquo;And our charge that high fuel taxes is because of the greed of the central government,&rdquo; he further wrote. Read/Watch Also: <a href="https://www.editorji.com/india-news/politics/priyanka-gandhi-s-swipe-at-centre-s-petrol-price-cut-says-move-out-of-fear-1636007808666">Priyanka&nbsp;Gandhi's swipe at petrol price cut</a>
On the eve of Diwali, The Centre decided to cut excise duty on petrol and diesel by record amounts of ₹5 and ₹10, respectively, per litre, to bring down their rates from the highest-ever record levels.
To the put the price cut in perspective-:
<ul>
<li>Petrol prices&nbsp; are up by ₹30 since 2020 Diwali.</li>
<li>Petrol prices saw a hike on 27 of the previous 34 day</li>
<li>Between March 2020 and May 2020, Excise duty was raised by ₹13</li>
<li>Even with the cut the Excise duty is up ₹ 8 vs 2019 and is at Rs 27.9 per litre on petrol</li>
<li>The central excise duty on petrol in 2014 was ₹ 9.48 per litre, it has been up 3 times since then</li>
</ul>

Petrol prices have crossed Rs 110 per litre mark in Delhi and Rs 115.85 in Mumbai&nbsp;on Tuesday.
Fuel prices have been hiked on 27 occasions since September 28, when a three-week-long hiatus in rate revision ended.
Last year this time petrol was Rs 81.06 per litre, hence it is a Rs 30 per litre&nbsp;hike in one year in Delhi.
Petrol prices have crossed the Rs 120 a litre mark in some areas of Rajasthan and Madhya&nbsp;Pradesh.
Diesel is now priced at&nbsp;Rs 98.42 a litre in Delhi and&nbsp;Rs 106.62 in Mumbai.

Petrol Diesel prices today

Petrol prices have crossed Rs 110 per litre mark in Delhi and Rs 115.85 in Mumbai on Tuesday.

Petrol is up 40% from last Diwali

Petrol prices have been hiked on 27 occasions since September 28, when a three-week-long hiatus in rate revision ended.

Petrol prices have crossed Rs 110 per litre mark in Delhi and Rs 115.85 in Mumbai&nbsp;on Tuesday.
Fuel prices have been hiked on 27 occasions since September 28, when a three-week-long hiatus in rate revision ended.
Last year this time petrol was Rs 81.06 per litre, hence it is a Rs 30 per litre&nbsp;hike in one year in Delhi.
Petrol prices have crossed the Rs 120 a litre mark in some areas of Rajasthan and Madhya&nbsp;Pradesh.
Diesel is now priced at&nbsp;Rs 98.42 a litre in Delhi and&nbsp;Rs 106.62 in Mumbai.

The prices of vegetables like tomato and onion have increased in Delhi's wholesale and retail markets, owing to crop damages in Karnataka and Maharashtra due to heavy rainfall and high fuel rates, vegetable traders said on Tuesday. They said the price rise in the wholesale rates of vegetables was between Rs 10 and Rs 15 per kg; while in the retail market, it was around Rs 15-20 per kg.
Vegetable traders indicated that these consumables may get dearer in the coming weeks if a similar situation continues.&nbsp;Vegetable vendors told PTI&nbsp;that, "tomato prices are ranging between Rs 50 and Rs 55 per kg, while it earlier used to be at around Rs 40 per kg. Similarly, onion prices have also been hiked and now, it is around Rs 50 per kg which used to be sold earlier at around Rs 35-40 per kg."Diesel prices are at a record high fuelling hike in transport cost for vegetables. Most of the onion and tomatoes come to the national capital from Maharashtra, Madhya Pradesh, and Karnataka.
&nbsp;

Tomato, onion prices rise sharply on high fuel rates, crop damages 

Inflation headline says price rise at 5-month low but market rates show price of essentials such as onions and tomatoes jumping 25% as fuel costs soar. 

Tomatoes become costlier by 25 per cent as fuel costs surge

Prices of vegetables like tomatoes &amp; onions in Delhi's markets see an increase of around Rs 10-20/kg 
<div>&nbsp;</div>

The prices of vegetables like tomato and onion have increased in Delhi's wholesale and retail markets, owing to crop damages in Karnataka and Maharashtra due to heavy rainfall and high fuel rates, vegetable traders said on Tuesday. They said the price rise in the wholesale rates of vegetables was between Rs 10 and Rs 15 per kg; while in the retail market, it was around Rs 15-20 per kg.
Vegetable traders indicated that these consumables may get dearer in the coming weeks if a similar situation continues.&nbsp;
Also watch:&nbsp;<a title="CPI inflation eases, retail price rise at 5-month low in September" href="https://www.editorji.com/business-news/economy/cpi-inflation-eases-retail-price-rise-at-5-month-low-in-september-1634049673810">CPI inflation eases, retail price rise at 5-month low in September</a> Vegetable vendors told PTI&nbsp;that, "tomato prices are ranging between Rs 50 and Rs 55 per kg, while it earlier used to be at around Rs 40 per kg. Similarly, onion prices have also been hiked and now, it is around Rs 50 per kg which used to be sold earlier at around Rs 35-40 per kg." Diesel prices are at a record high fuelling hike in transport cost for vegetables. Most of the onion and tomatoes come to the national capital from Maharashtra, Madhya Pradesh, and Karnataka.
&nbsp;

Rising inflation and fuel prices have given Opposition a lot of scope to get creative with their protests. Here's a look at some of the innovative protests. 

Fuel Price Hike: Opposition parties rides bicycles, bullock carts, buffaloes in protest

Watch:&nbsp;Opposition leaders&nbsp;ride bicycles, bullock carts, buffaloes to protest fuel price hike.&nbsp;

Fuel Price Hike: Oppn rides bicycles, bullock carts, buffaloes in protest

Rising inflation and fuel prices have given Opposition a lot of scope to get creative with their protests. Here's a look at some of the innovative protests.&nbsp;

Rising inflation and fuel prices have given Opposition a lot of scope to get creative with their protests. Here's a look at some of the innovative protests.&nbsp;
Opposition leaders&nbsp;ride bicycles, bullock carts, buffaloes to protest fuel price hike.&nbsp;
In Karnataka, Congress leaders rode bullock carts to Assembly
In Bihar a candidate arrived to file panchayat&nbsp;polls nomination on buffalo
Earlier, Rahul&nbsp;Gandhi rode&nbsp;bicycle to Parliament to protest fuel price hike

The Congress on Friday held demonstration in front of petrol pumps to protest against the zooming fuel prices. The protests came after the fuel prices crossed the ₹100-mark in several states. The opposition party instructed all the state units and frontal organisation to hold protest and demand a rollback of the hike. In Delhi and sevral other states, senior Congress leaders took to streets to demand a rollback in fuel price hike, which have been on an upward swing swing since May 3. Over 60% of the price of fuel is due to taxes imposed on petrol and diesel by central and state govts. s

Congress hits streets in protest as fuel price sky-rocket

The Congress on Friday held demonstration in front of petrol pumps to protest against the zooming fuel prices

The Congress on Friday held demonstration in front of petrol pumps to protest against the zooming fuel prices. The protests came after the fuel prices crossed the ₹100-mark in several states. The opposition party instructed all the state units and frontal organisation to hold protest and demand a rollback of the hike. In Delhi and sevral other states, senior Congress leaders took to streets to demand a rollback in fuel price hike, which have been on an upward swing swing since May 3. Over 60% of the price of fuel is due to taxes imposed on petrol and diesel by central and state govts. s

Fuel continues to be on fire,&nbsp;petrol &amp; diesel prices have been hiked again on Wednesday by 24-27 paise&nbsp;today. Cumulatively&nbsp;petrol prices are up&nbsp;Rs 1.40/l in last 9 days &amp; Rs 6/Litre since May 3.The surge in fuel prices is here to stay with global crude soaring to over a 2 year high and Brent crossing the $72/bbl mark. Global crude oil are up by 35% in 2021 alone.&nbsp;India imports 80 per cent of its oil requirement and prices from the pandemic low are up a whopping 200%.&nbsp;
The Oil Minister, Dharmendra&nbsp;Pradhan&nbsp;made another push towards getting the big ticket item under GST, he stated, "As a sector in-charge, I am of the opinion that fuel should be brought under the GST. But, it will be done only when members of the GST council reach a consensus on it. It is the GST Council which will take a collective decision about it."

Crude soars to 3-year high, prices hiked again, Oil Minister raises plea for GST

Get ready for Petrol at Rs 110, Crude soars to 3 year high. Oil Minister raises the plea for GST inclusion again.&nbsp;

Get ready for Petrol at Rs 110, Crude soars to 3 year high

Fuel continues to be on fire,&nbsp;petrol &amp; diesel prices have been hiked again on Wednesday by 24-27 paise&nbsp;today. Cumulatively&nbsp;petrol prices are up&nbsp;₹1.40/l in the last 9 days &amp; ₹6/Litre since May 3. The surge in fuel prices is here to stay with global crude soaring to over a 2-year high and Brent crossing the $72/bbl mark. Global crude oil prices are up by 35% in 2021 alone.&nbsp;India imports 80% of its oil requirement and prices from the pandemic low are up a whopping 200%.&nbsp;
The Oil Minister, Dharmendra&nbsp;Pradhan&nbsp;made another push towards getting the big-ticket item under GST, he stated, "As a sector in-charge, I am of the opinion that fuel should be brought under the GST. But, it will be done only when members of the GST council reach a consensus on it. It is the GST Council which will take a collective decision about it."

Big spike in prices of basic metals, fuel and power has led to a record high inflation in April clocking in at 10.39%.&nbsp;
The biggest culprit remains oil prices which will continue to be a pain point in May as well.&nbsp;Inflation in the fuel and power basket soared to&nbsp;20.94% in April. Manufactured products inflation stood at 9.01%.&nbsp;
Prices have hardened from 4.3% in February to 10.3% in April and economists seeing further jumps in May as the base from last year remains low.&nbsp;
&nbsp;
&nbsp;

Record high inflation adds to the pandemic pain for the economy

WPI soars to 10.3% in April

Big spike in prices of basic metals, fuel and power has led to a record high inflation in April clocking in at 10.49%.&nbsp;
The biggest culprit remains oil prices which will continue to be a pain point in May as well.&nbsp;Inflation in the fuel and power basket soared to&nbsp;20.94% in April. Manufactured products inflation stood at 9.01%.&nbsp;
Prices have hardened from 4.3% in February to 10.3% in April and economists seeing further jumps in May as the base from last year remains low.&nbsp;
&nbsp;
&nbsp;

A year after the&nbsp;coronavirus&nbsp;pandemic started,&nbsp;editorji&nbsp;looks&nbsp;at the state of the economy. We begin by speaking with India's Chief Economic Adviser, Dr. Krishnamurthy Subramanian on how the economy has fared through a global pandemic and what the government&nbsp;can do to bring India back on the fast-track of recovery. Next,&nbsp;we&nbsp;caught up with Mohandas Pai of Aarin Capital and economist Prof. Arun Kumar to get a sense of the ground realities of India's post-pandemic economic recovery. All this and more on News Guru with Vikram Chandra&nbsp;

News Guru: Economy, a year after the pandemic

A year after the&nbsp;coronavirus&nbsp;pandemic started,&nbsp;editorji&nbsp;looks&nbsp;at the state of the economy. We begin by speaking with India's Chief Economic Adviser, Dr. Krishnamurthy Subramanian on how the economy has fared through a global pandemic and what the government&nbsp;can do to bring India back on the fast-track of recovery. Next,&nbsp;we&nbsp;caught up with Mohandas Pai of Aarin Capital and economist Prof. Arun Kumar to get a sense of the ground realities of India's post-pandemic economic recovery. All this and more on News Guru with Vikram Chandra&nbsp;

The Opposition continued its attacks on the government over rising fuel prices on the second day of Parliament. 

Budget Session 2021: Opposition corners govt on rising fuel prices on second day of Parliament

The Opposition continued its attacks on the government over rising fuel prices on the second day of Parliament.

Oppn corners govt on rising fuel prices on 2nd day of Parliament

The Opposition continued its attacks on the government over rising fuel prices on the second day of Parliament. Both Lok Sabha and Rajya Sabha, which resumed functioning&nbsp;at the usual 11 am from Tuesday, saw adjournments as unrelenting opposition members raised slogans against the sky-rocketing petrol, diesel and cooking prices. Even on Monday, the proceedings were disrupted over the opposition protest against the govt over fuel prices.

The Opposition continued its attacks on the government over rising fuel prices on the second day of Parliament.
Both Lok Sabha and Rajya Sabha, which resumed functioning&nbsp;at the usual 11 am from Tuesday, saw adjournments as unrelenting opposition members raised slogans against the sky-rocketing petrol, diesel and cooking prices.
Even on Monday, the proceedings were disrupted over the opposition protest against the govt over fuel prices.
&nbsp;
Also Read: <a href="https://www.editorji.com/story/rajya-sabha-adjourned-amid-ruckus-over-fuel-price-hike-1615198063201" target="_blank" >Rajya Sabha adjourned amid ruckus over fuel price hike</a>

&nbsp;As crude prices remain steady around $60/bbl&nbsp;all eyes on OPEC+ meet as the world&rsquo;s largest oil producers set to decide if supply of oil should&nbsp;be increased. OPEC along with Russia.&nbsp;The Organization of the Petroleum Exporting Countries and its allies led by Russia, ,&nbsp;could discuss allowing as much as 1.5 million barrels per day back onto the global market.&nbsp;&nbsp;
OPEC+ continues to hold around 7 million bpd off the markets even as demand has to started pick up across the globe.&nbsp; Prices also gone up multi-fold from the pandemic lows&nbsp;of sub $20/bbl&nbsp;mark.&nbsp;&nbsp;
This comes at a time when India is already facing record high prices at petrol&nbsp;pumps .&nbsp;Indian Oil Minister has urged the 23 national coalition to keep policy and output stable.&nbsp;India imports 80% of&nbsp;it&rsquo;s&nbsp;crude demand.&nbsp;&nbsp;

OPEC to decide on oil supplies, crude prices hover around $60

&nbsp;As crude prices remain steady around $60/bbl&nbsp;all eyes on OPEC+ meet as the world&rsquo;s largest oil producers set to decide if supply of oil should&nbsp;be increased. OPEC along with Russia.&nbsp;The Organization of the Petroleum Exporting Countries and its allies led by Russia, ,&nbsp;could discuss allowing as much as 1.5 million barrels per day back onto the global market.&nbsp;&nbsp;
 OPEC+ continues to hold around 7 million bpd off the markets even as demand has to started pick up across the globe.&nbsp; Prices also gone up multi-fold from the pandemic lows&nbsp;of sub $20/bbl&nbsp;mark.&nbsp;&nbsp;
 This comes at a time when India is already facing record high prices at petrol&nbsp;pumps .&nbsp;Indian Oil Minister has urged the 23 national coalition to keep policy and output stable.&nbsp;India imports 80% of&nbsp;it&rsquo;s&nbsp;crude demand.&nbsp;&nbsp;

&nbsp;As crude prices remain steady around $60/bbl&nbsp;all eyes on OPEC+ meet as the world&rsquo;s largest oil producers set to decide if supply of oil should&nbsp;be increased. OPEC along with Russia.&nbsp;The Organization of the Petroleum Exporting Countries and its allies led by Russia, ,&nbsp;could discuss allowing as much as 1.5 million barrels per day back onto the global market.&nbsp;&nbsp;
 OPEC+ continues to hold around 7 million bpd off the markets even as demand has to started pick up across the globe.&nbsp; Prices also gone up multi-fold from the pandemic lows&nbsp;of sub $20/bbl&nbsp;mark.&nbsp;&nbsp;
 This comes at a time when India is already facing record high prices at petrol&nbsp;pumps .&nbsp;Indian Oil Minister has urged the 23 national coalition to keep policy and output stable.&nbsp;India imports 80% of&nbsp;it&rsquo;s&nbsp;crude demand.&nbsp;&nbsp;

Airlines are all set to pay more for fuel as jet fuel prices were raised by a steep 6.5%.&nbsp;This is the third increase in jet fuel prices since February, prices were hiked by 3.6% last on Feb 16.&nbsp; This could translate to higher ticket prices ahead of the busy summer season.&nbsp;
The move comes on the back of a steep&nbsp;uptick&nbsp;in global oil prices. Crude oil prices have been very volatile ahead of the OPEC meet on March 5, where markets are anticipating some supply easing to be done.&nbsp;&nbsp;&nbsp;

Fuel bill rises for airlines, steep hike of 6.5%

Airlines are all set to pay more for fuel as jet fuel prices were raised by a steep 6.5%.&nbsp;This is the third increase in jet fuel prices since February, prices were hiked by 3.6% last on Feb 16.&nbsp; This could translate to higher ticket prices ahead of the busy summer season.&nbsp;
The move comes on the back of a steep&nbsp;uptick&nbsp;in global oil prices. Crude oil prices have been very volatile ahead of the OPEC meet on March 5, where markets are anticipating some supply easing to be done.&nbsp;&nbsp; &nbsp;

Airlines are all set to pay more for fuel as jet fuel prices were raised by a steep 6.5%.&nbsp;This is the third increase in jet fuel prices since February, prices were hiked by 3.6% last on Feb 16.&nbsp; This could translate to higher ticket prices ahead of the busy summer season.&nbsp;
The move comes on the back of a steep&nbsp;uptick&nbsp;in global oil prices. Crude oil prices have been very volatile ahead of the OPEC meet on March 5, where markets are anticipating some supply easing to be done.&nbsp;&nbsp; &nbsp;

Congress leader Shashi Tharoor on Friday protested against the rising fuel prices by pulling an autorickshaw in the middle of the road outside the Kerala Secretariat in Thiruvananthapuram. According to the MP, more than 100 autos joined the protest and expressed discontent against the Centre and the state government. Tharoor posted a video of him pulling an autorickshaw with rope and raising slogans against the sky-rocketing prices of fuel on his Twitter account. He was joined by several other autorickshaw drivers as well as Congress workers outside the Kerala Secretariat.

Watch: Shashi Tharoor pulls auto with rope at fuel prices protest

Congress leader Shashi Tharoor on Friday protested against the rising fuel prices by pulling an autorickshaw in the middle of the road outside the Kerala Secretariat in Thiruvananthapuram

Congress leader Shashi Tharoor on Friday protested against the rising fuel prices by pulling an autorickshaw in the middle of the road outside the Kerala Secretariat in Thiruvananthapuram. According to the MP, more than 100 autos joined the protest and expressed discontent against the Centre and the state government. Tharoor posted a video of him pulling an autorickshaw with rope and raising slogans against the sky-rocketing prices of fuel on his Twitter account. He was joined by several other autorickshaw drivers as well as Congress workers outside the Kerala Secretariat.

Concerns of inflationary pressures from record-high fuel prices are taking rising, shows the minutes of the Monetary Policy Committee (MPC).
RBI Governor batted for reduced taxation on the fuel bill, as per the minutes of the rate-setting committee. RBI Chief Shaktikanta Das noted, &ldquo;proactive supply-side measures, particularly in enabling a calibrated unwinding of high indirect taxes on petrol and diesel&mdash;in a coordinated manner by the Centre and states&mdash;are critical to contain a further build-up of cost pressures in the economy.&rdquo;
This worry is backed by troubling figures at the start of the year. Fuel inflation was 3.87% in January which has seen a sharp increase over the last three months.

RBI bats for fuel tax cut

RBI Meet Minutes Show Concern Over Fuel Prices High Fuel Prices Stoking Inflationary Pressures RBI Gov: Unwinding Of Fuel Taxes Critical To Reduce Inflation

Concerns of inflationary pressures from record-high fuel prices are taking rising, shows the minutes of the Monetary Policy Committee (MPC).
RBI Governor batted for reduced taxation on the fuel bill, as per the minutes of the rate-setting committee. RBI Chief Shaktikanta Das noted, &ldquo;proactive supply-side measures, particularly in enabling a calibrated unwinding of high indirect taxes on petrol and diesel&mdash;in a coordinated manner by the Centre and states&mdash;are critical to contain a further build-up of cost pressures in the economy.&rdquo;
This worry is backed by troubling figures at the start of the year. Fuel inflation was 3.87% in January which has seen a sharp increase over the last three months.

fuel prices

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