After Rajasthan, Andhra Pradesh slashes fuel prices by Rs 2 per litre

039;Bharat Bandh' against fuel price hikes live updates Opposition launches attack

039;Bharat Bandh' against fuel price hikes live updates Opposition launches attack

Meanwhile, normal life was hit in some states on Monday with offices and educational institutes closed and vehicles off the roads during an opposition sponsored "Bharat Bandh" against the rising fuel prices. "Now, the crude oil costs $70 per barrel, but the Centre is increasing the petrol and diesel prices abnormally every day", he said. According to petroleum dealers in the State, compared to Friday's price, petrol on Saturday cost 41 paise more while diesel price rose 48 paise a litre.

Similarly in Delhi, at Rs 80.73 per litre on Monday, taxes make up 43.18 percent of the price. The new petrol and diesel prices will be applicable from Tuesday morning (September 11). However, prices vary in different parts of the state due to local tax additions.

AAP leaders staged a protest at Delhi's Jantar Mantar against the fuel price hike.

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Oil Minister Dharmendra Pradhan on Sunday said that India as a stable economy should avoid any knee-jerk reaction to volatile crude oil prices, indicating no cut in taxes on fuel despite petrol and diesel prices breaching record levels in the national capital.

Maharashtra has the highest Value-Added Tax of 39.12 percent on petrol, Andhra Pradesh levies the highest Value-Added Tax of 26 percent on diesel.

Implication wise, the rise in diesel prices is expected to flare up the inflationary pressure as the fuel is primarily used to transport the majority of goods including agriculture products. The opposition has demanded the central government to cut excise duty on fuel prices. The Central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October a year ago by Rs 2 a litre.

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