PM Modi meets oil company heads, as fuel prices increases

As fuel prices continue to rise the Prime Minister Narendra Modi met the chiefs of oil companies to take stock of the global energy situation.

Data on the Indian Oil Corporation website showed that petrol was priced at Rs. 82.72 per litre in New Delhi, up from Rs. 82.66. Similarly, petrol prices in Mumbai, Kolkata and Chennai also rose on Sunday – to Rs. 88.18 in Mumbai, Rs. 84.54 in Kolkata and Rs. 85.99 per litre in Chennai.

The national capital has the lowest tax rate among the four metro cities. The prices differ from one region to another because of local taxes, as the product is excluded from the Goods and Services Tax.

The Union Finance Minister Arun Jaitley earlier this month had announced a cut in excise duty by Rs. 1.50 a litre. In addition, the state-owned oil marketing companies have been commanded to decrease price of petrol and diesel by Re 1 per litre.

[source_without_link]SIASAT NEWS[/source_without_link]