Two days after three-digit debut, petrol scores all-Kolkata century – Times of India

Kolkata News
KOLKATA: The price of a litre of petrol breached the 100-rupee mark at all fuel stations across Kolkata on Wednesday, barely 48 hours since it had touched three digits at two fuel pumps, for the first time ever. And with diesel, too, selling over the 90-rupee mark, it is being feared that it won’t be too long before this, too, “scores a century”.
The current selling price, Rs 100.23, follows a 39-paisa increase in two days, the 36th time in two months. It’s also a 37% hike since June 2020, when it was priced Rs 73.28, which is the highest increase in fuel prices ever over a 13-month period.

Diesel, the backbone of commercial vehicles, is currently selling for Rs 92.50. This, a 41% increase since June 2020 (when it was priced at Rs 65.61), is an even bigger leap. If the trend continues, this, too, would cross the 100-rupee mark in the not-too-distant future, believe fuel station owners.
As a mark of protest, petrol pumps across the state affiliated with the association refrained from selling fuel between 7pm and 7.30pm on Wednesday.
“This is a dark day in the history of the petroleum business in our city,” said Snehasis Bhowmik, vice-president, West Bengal Petroleum Dealers’ Association.
“The cost of fuel has risen around Rs 30 since last year and according to information we have, it will continue to rise in the coming days. While petrol pump operators like us get only a minuscule commission of Rs 2.80 per litre, the majority of the money goes into taxes. We request the central and state governments to take immediate steps in controlling this price-rise, which is affecting every citizen.”
According to officials of oil marketing companies, fuel prices in the country have been rising almost every alternate day since last month due to a hike in international crude oil prices, which rose sharply in 2021 on the back of a resurgence in global demand as the world economy slowly recovered from the Covid-19 pandemic. The price of Brent crude has risen by 47.1% to about $76.20 per barrel from about $51.80 per barrel at the beginning of the year.
Sources in an oil PSU said it may take some time before domestic petrol and diesel prices get reduced — or until the government takes a call on lowering fuel taxes. High central and state taxes on petrol and diesel are the primary reasons behind spiralling fuel prices in Bengal. Till Tuesday, the central tax was Rs 32.90 (around 63% of total taxes on petrol in state), while the state tax was Rs 19.27. Similarly, on diesel, the central tax is Rs 31.80 and the state tax Rs 13.08. The base price of petrol in the city was only Rs 44.20 while that of diesel was Rs 45.16 on July 6. Apart from taxes and the base price, the rest of the price components include freight charges and dealers’ commission of around Rs 2.80.
The state government had reduced the taxes on petrol and diesel by Re 1 on February 22 for four months, which has already been renewed for another three months through a notification. The total demand for petrol in the state is around 1.2 lakh kilo litres (kl) per month, while that of diesel is around 3 lakh kl.
Motorists were left feeling the pinch. “I can’t believe that we cannot even get a litre of petrol for Rs 100 now,” said Tala Park resident Abhishek Banerjee. “I had bought a car two years back hoping for comfortable travel to and from office. But now I am prepared to keep my car in the garage and return to public transport.” The spiralling diesel price has also kept several buses and cabs off the roads, even after the Covid-induced restrictions were relaxed last week. “With diesel inching fast towards Rs 100, there is no point operating a bus unless the government increases bus fares,” said Saikat Das, who owns two private buses on the Howrah-Pailan route.

Source: https://timesofindia.indiatimes.com/city/kolkata/two-days-after-three-digit-debut-petrol-scores-all-kolkata-century/articleshow/84219519.cms