Increasing Continuously Fuel prices reach new high

The rupee on Tuesday closed at a fresh record low of 72.70 against the dollar down 0.34% from Monday’s close of 72.45

(Delhi - Rs 72.83; Mumbai - Rs 77.32; Chennai - Rs 76.98; Kolkata - Rs 75.68.) The petrol price on September 10 is Rs 84.06 a litre, which is higher than in all metros except Mumbai (where the price is Rs 88.12 on the day.). Petrol and diesel prices scaled new all-time highs on Monday as the prices of the two fuels were jacked up by another 23 paise and 22 paise per litre, respectively. An anonymous government official, quoted by PTI in a news report published Monday, said a cut in excise duty that the central government levies will impact fiscal deficit and states like Bihar, Kerala, and Punjab are not in a position to cut sales tax or Value Added Tax (VAT). "Bharat bandh evokes good response in Chhattisgarh Congress" Bharat Bandh against rising fuel prices evoked a good response in the BJP-ruled Chhattisgarh where many business establishments remained shut in major cities including Raipur and buses stayed off roads.

The other highest centres include Nanded where petrol was retailing at Rs 89.93 per litre and diesel Rs 77.90, and Amravati Rs 89.93 and Rs 78.84. Congress workers, however, held demonstrations and took out protest march at several places as part of the "Bharat Bandh" call.

As the Congress top brass including party chief Rahul Gandhi targeted the Narendra Modi government at a protest rally at Ramlila Maidan here, the BJP claimed that the bandh was called to divert attention from the hearing in the Delhi High Court on a matter related to the National Herald case involving its "corrupt" leaders.

Fuel prices continued to inch up on Tuesday despite the opposition's Monday's Bharat Bandh against rising petrol and diesel prices.

Meanwhile, Andhra Pradesh assembly passed a resolution to roll back petrol and diesel prices by Rs 2 per litre.

While the Congress and other opposition parties claimed the bandh was a success, the BJP claimed it was a flop.

Manmohan Singh hit out at the BJP for "miserably" failing to control fuel prices. "Diesel, petrol price rise is out of our hands because oil-producing countries have limited production", Union minister Ravi Shankar Prasad said. Modiji used to move around the country saying that petrol prices are going up, diesel prices are going up.

Calling the hike in prices of petroleum products a "momentary difficulty" due to the worldwide crisis, the BJP on Monday condemned incidents of violence during the Bharat Bandh.

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