Own correspondent: - Petrol and Diesel price hikes.Petrol price hits four-year high, diesel at highest level. The price of petrol in Kolkata rose to Rs 76.44 per liter. In the last seven days, the price has risen to 16 paisa. Meanwhile, diesel price has increased by Rs 67.27 per liter. In the last seven days, the price of diesel habe increased by one and a half paisa per liter in Kolkata. The price have increased to the highest rate in the last four years.
Central Oil Ministry had earlier proposed a reduction of excise duty on fuel. But this proposal on budget was rejected by Finance Ministers Arun Jaitley. Among all the South Asian countries, the current retail price of petrol and diesel is reported to be the highest in India. Since the last year, petrol and diesel prices is being revised every day. Prior to that, the price of petrol-diesel was revised on 1st and 16th of every month.
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