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Petrol, diesel prices rise for second consecutive day

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Calling the steep rise in diesel and petrol prices as Rs 11 lakh crore 'fuel loot,' the Congress on Thursday called for a 'Bharat bandh' on September 10, saying it was in touch with other parties for their support.

Petrol, diesel prices rise for second consecutive day
Petrol and Diesel prices across all four metro cities climbed for a second straight day on Friday with Delhi National Capital Region hitting the Rs 80 per litre mark for the first time in calendar year 2018. The price of petrol was at Rs 79.99 per litre while diesel prices were at Rs 72.07 per litre.
Petrol prices in Kolkata, Mumbai and Chennai also rose to mark a new high with prices at Rs 82.88 per litre, Rs 87.39 per litre, and Rs 83.13 a litre respectively.
Diesel prices also peaked in the major cities to Rs 74.92 per litre in Kolkata, Rs 76.51 per litre in Mumbai and Rs 76.17 per litre in Chennai.
Prices have been on the rise since mid-August, rising almost every day due to a combination of rupee depreciation and rise in crude oil rates. International Brent crude futures climbed 12 cents, or 0.2 percent, to $76.62 a barrel on Friday.
The rupee fell to a record low of Rs 71.98 to a dollar on Thursday, after hitting the 72 mark to a dollar during the intra-day trading.
Calling the steep rise in diesel and petrol prices as Rs 11 lakh crore 'fuel loot,' the Congress on Thursday called for a 'Bharat bandh' on September 10, saying it was in touch with other parties for their support.
The party again demanded that petrol and diesel be brought under Goods and Services Tax (GST). The government had earlier rejected the demand saying most states were opposed to it.
It also demanded that there should be immediate reduction in central excise duty and excessive VAT in the states.
Finance minister Arun Jaitley on Wednesday remained non-committal on cutting excise duty to cushion spiralling petrol and diesel prices, saying international oil prices are volatile and have not shown any linear movement.
The centre currently levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.