Petrol touches new high: Rs 89.69 per litre in Mumbai, Rs 82.32 in Delhi

New Delhi: Petrol prices reached a new high across the country on Friday. The price of petrol in Mumbai rose by 9 paise and currently stands at Rs 89.69 per litre in the city. In Delhi, the prices rose by 10 paise and now stands at Rs 82.32 per litre, according to Indian Oil Corporation.

In Kolkata, the prices rose by 9 paise and are at Rs 84.16 per litre. In Chennai, the prices rose by 10 paise to Rs 85.58 per litre. 

However, diesel prices unchanged for the second day in a row. The fuel prices vary from state to state as the prices depend on local sales tax or value-added tax. The Centre currently levies a total excise duty of Rs 19.48 per litre on petrol and Rs 15.33 per litre on diesel, while VAT varies amongst states. 

While Delhi sells the cheapest fuel among all metros and most state capitals because of lower taxes, Mumbai has the highest sales tax.

Prices of non-branded petrol in metro-cities

Prices of non-branded diesel in metro-cities

Source: IOCL website

In an attempt to bring down the fuel prices, the Maharashtra government has decided to increase excise duty on Indian-made foreign liquor (IMFL) in a way to compensate for a possible cut in tax on petrol and diesel. 

Maharashtra has not increased duty on the Indian-made foreign liquor since 2013 and therefore, it might impose more tax on the IMFL if fuel prices keep on increasing at this rate. “The idea is to increase the excise duty on IMFL, especially on the largely consumed mid-segment liquors, so that government would earn more revenue. Then we can reduce taxes on petrol and diesel and counter the criticism (of soaring fuel prices)," a government official told PTI. 

With PTI inputs