Fuel price hike: UP potato farmers face sharp drop in sales

Fuel price hike: UP potato farmers face sharp drop in sales

Earlier on Wednesday, IndianOil had published that the petrol price was cut by 60 paise and diesel price by 56 paise in the capital.

Potato farmers in Uttar Pradesh's Moradabad are incurring losses as they are not able to sell off their produce due to hike in petrol and diesel rates which is leading to increase in transportation prices. The current petrol price in Mumbai is Rs 86.23 per litre from the previous Rs 86.24 per litre and the current diesel price is Rs 73.78 per litre from the previous Rs 73.79 per litre.

The petrol price in the state today was Rs 82 per litre, while for diesel it was Rs 75, he said.

State-owned oil companies in June 2017, dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. The marginal 1 paisa cut fuelled anger on social media. "It's been five days now, but nobody has come to buy potatoes", said a concerned potato farmer. For 19 days there were no movement in prices of both the fuels.

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Petroleum prices do not fall under the ambit of Goods and Services Tax (GST) and are one of the big sources of revenue for the state government. Kerala charges 32.02 per cent on petrol and 25.5 per cent on diesel.

The cut comes after 16 consecutive day of price increase since May 14 when fuel retailers ended the pre-Karnataka poll hiatus.

In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortnight.

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