Both opposition Congress and ruling BJD in Odisha have launched agitations against the spiralling prices of petrol and diesel.
In Mumbai and Chennai, petrol was sold at Rs 85.78 and Rs 80.95 a litre, respectively, up from Rs 85.65 and Rs 80.80 per litre on Friday.
The fuel price hike can no more be blamed on crude oil prices.
Retail prices were frozen between April 24 and May 13, when campaigning was on for the Karnataka Assembly elections. In the run-up to state elections in the southern state, the oil companies had stopped revising the petroleum prices for over a fortnight. In Shillong petrol price per litre has soared to Rs. 76.54 and diesel to Rs. 68.14 per liter as on May 23, 2018.
Besides, the state share in taxes like excise, the Centre does provide sixty to 70 per cent share in all centrally sponsored schemes to states like the PMAY, MGNREGS, NRHM, said Pradhan.
The high levels of oil subsidy during UPA regime was on account of government compensating OMCs for selling petrol and diesel below market price during administered price regime.
Israeli army kills three Gaza militants after foiling border bombing
Palestinian media reported that the airstrikes hit a number of Hamas positions in the areas of Rafah and Khan Younis. Just hours before this announcement, the IDF announced that it had deactivated an explosive wired to a border fence.
White House still a go on planning trip for North Korea summit
He urged Washington and Pyongyang to resolve their differences through "more direct and closer dialogue between their leaders". The two leaders embraced as Moon departed.
Oil prices tumble on surprise jump in US inventories
As of 1628 BST, front month West Texas Intermediate crude oil futures on the ICE were 0.866% lower to $71.58 a barrel. Allaying fears of a steep rise in oil prices, OPEC countries have made a decision to step up production of crude oil.
The Centre levies Rs19.48 as excise duty on a litre of petrol and Rs15.33 on diesel.
As per government data, price of petrol rose to its highest levels in the last two years of UPA regime. Central government puts additional tax of Rs 10 on every litre of petrol. In the fiscals 2016-17 and 2015-16, growth in the government's revenue from petroleum products was 25 per cent each.
Across all forecourts, the average was even higher with prices rising by almost 8.5p a litre.
Pradhan also asked the Odisha government to cut its 26 per cent Value Added Tax (VAT) on fuel to bring the rising petrol and diesel prices under control. He suggested that even if fuels are brought under new taxation system, the states can still impose taxes to compensate their loss.
International Olympic Committee chairman Sanjiv Singh said the government had so far not directed refiners to cut imports from Iran. The rise and fall of oil prices had been a common phenomenon in the past too and happened due to the fluctuation of crude oil prices at the source.