Congress to stage 10-day protest in Mumbai against fuel price hike

On Monday, July 5, Congress party Mumbai Unit chief, Bhai Jagtap said, that the party will be holding agitation against the fuel price hike. He said, "From July 7 to July 17, Congress will hold agitation against fuel price hike across Mumbai. We are going to launch a signature campaign on 100 petrol pumps in Mumbai. There will be agitations in 22-23 wards every day." The changes in fuel rates are implemented with effect from 6 AM every day. As of today, Congress has launched an agitation against the fuel price hike. 

Fuel prices soaring

Fuel prices have been repeatedly hiked in the past few months and have crossed Rs. 100 in a number of cities all over the country. The petrol price in Mumbai as of Wednesday, July 7 is Rs 106.25 per litre, whereas the diesel price in Mumbai is Rs 96.97 per litre. The petrol price in Mumbai reached an all-time high and Mumbai fuel price is the highest in the country. On Friday, July 2, Dr Shama Mohamed, National Spokesperson for the Indian National Congres - AICC, took to Twitter to post about the Mumbai fuel price hike, inflation and slammed the Modi government. As of today, the states with a petrol price of Rs. 100 or above include:

• Bihar
• Delhi
• Jammu and Kashmir
• Karnataka 
• Kerala 
• Madhya Pradesh 
• Maharashtra
• Odisha
• Rajasthan
• Tamil Nadu
• Telangana

Costs and breakdown of fuel price 

Fuel prices include costs of Crude Oil, Refinery Processing and Margins, OMC Margin, Freight Cost and Logistics. To this cost figure, Central government taxes (Excise Duty and Road Cess) and Dealer commission are added, after which, the final addition is Value Added Tax (VAT). Due to the pandemic, last year, the government had increased VAT on petrol to 32% and VAT on diesel to 28%. Since then, the VAT has been increased on both.
(Image: PTI)