Prices of petrol and diesel have been on the rise since mid-August, rising almost every day due to a combination of a drop in the dollar-rupee and rise in crude oil prices
New Delhi: The price of petrol reached a new high in Mumbai on Monday after it crossed Rs 90 mark after an 11 paise hike. A litre now costs Rs 90.08.
In Delhi, after an 11 paise hike, a litre of petrol will now cost you Rs 82.72. The rates went up in other metros too. Petrol costs Rs 84.54 per litre in Kolkata, and Rs 85.99 per litre in Chennai.
Diesel prices also rose on Monday. Diesel is now being sold at Rs 78.58 per litre in Mumbai, Rs 74.02 per litre in Delhi, Rs 75.87 per litre in Kolkata and Rs 78.26 per litre in Chennai.
Delhi has the cheapest fuel rates among all metros and most State capitals because of lower taxes. Mumbai has the highest sales tax or Value Added Tax (VAT).
Prices of petrol and diesel have been on the rise since mid-August, rising almost every day due to a combination of a drop in the dollar-rupee and rise in crude oil prices.
According to Organisation of Petroleum Exporting Countries (OPEC), basket of crude oils is currently priced at $78.80 per barrel.
The fuel prices vary from State to State as the prices depend on local sales tax or value added tax.
The Centre currently levies an excise duty of Rs 19.48/litre on petrol and Rs 15.33 per litre on diesel. Various States levy VAT on petrol and diesel. Mumbai has the highest VAT of 39.12 percent on petrol, while Telangana levies the highest VAT of 26% on diesel.
(With inputs from PTI)
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