With just a few days to go for 2022, we look back at the year gone by as fuel got dearer by as much as 20 percent since January.
It didn’t matter who you were, fuel prices kept you on your toes through most of the year and kept your pockets feeling progressively lighter for numerous days.
In a written reply to the Parliament, the government said that petrol prices increased 69 times, diesel 67 times and domestic LPG 4 times over the 365 days in question.
For instance, petrol prices stood at Rs 83.71 per litre in Delhi and at Rs 90.34 per litre in Mumbai in January. But by May, prices in Mumbai had broken the Rs 100 rupees per litre mark and by early July, so had prices in Delhi.
It wasn't just petrol that seared its way into the stratosphere, diesel prices crossed 100 rupees per litre as well, first in Mumbai on October 9, then in Chennai, and in Kolkata soon after.
By the end of 2021, petrol in Delhi was 24.2 percent costlier than when the year started. Prices in Mumbai were 21 percent higher, they were 17.21 percent higher in Chennai and in Kolkata, petrol was dearer by 22.87 percent.
The Centre largely remained unmoved, even as state governments called for relief. The Centre said that it was upto the States to reduce the State-levied value added tax (VAT) to make fuel cheaper for the consumers.
However, a day before Diwali, the government slashed excise duty on fuel by Rs 5 per litre on petrol and on diesel by Rs 10 per litre. The move came even as many states moved to cut VAT on fuel.
Watch the accompanying video of CNBC-TV18’s Anshu Sharma for more details.
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