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Biggest single-day increase in petrol and diesel prices in Ahmedabad

Price of petrol rose by 3.78% since August 1, while diesel grew dearer by 6.47% in the same duration

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Consumers of petrol and diesel saw the steepest hike in prices on Friday after the price revision started on a daily basis from May 1 onwards. Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now.

"This is the highest rise in fuel prices under the new price revision system. There were hikes of about Rs 1.5 per litre in the earlier system when the revision took place on fortnightly basis," said Arvind Thakkar, president of Federation of Gujarat Petroleum Dealers Association, the apex body of all local associations of petrol pump operators in the state.

Off late, the prices are on a northward journey for about a month now, baring a few days, when it dropped marginally. Price of petrol rose by 3.78% since August 1, while diesel grew dearer by 6.47% in the same duration. The continuous rise in diesel prices has complicated matters for truckers.

"Determining fares has become very complicated, especially in longer journeys. Midway change in price of fuel derails the economics of transporters," said Mukesh Dave, executive president of Akhil Gujarat Truck Transport Association. Dave claimed that truckers have time and again represented the their case to the government but suggestions have been falling to deaf ears.

The formula for pricing fuel is also increasing the burden on the operators and consumers. Nimish Patel, chairman of GST Committee of All India Motor Transport Congress said that the combination of rising prices of crude oil and simultaneous weakening of Rupee against the Dollar has played a major role in a net hike in prices. "Moreover tax structure is such that VAT on fuel rises with the rise in the price of fuel. So while industry and retail consumers are suffering, the government is increasing its tax revenue," said Patel.

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