Petrol Price Crosses Rs 90 Mark in Mumbai After Fresh Hike in Fuel Rates
Petrol is being sold at Rs 90.08 for a litre in Mumbai after a hike of 11 paise, whereas diesel cost Rs 78.58 per litre following a 5 paise increase.
Mumbai, Sep 24: Price of petrol crossed the psychological Rs 90 per litre mark in Mumbai on Monday after a new hike in fuel rates. Petrol is being sold at Rs 90.08 for a litre in Mumbai after a hike of 11 paise, whereas diesel cost Rs 78.58 per litre following a five paise increase. In Delhi, petrol and diesel prices are Rs 82.72 per litre and Rs 74.02 per litre, respectively. Check rates of fuel in your city here.
In the national capital, petrol went up 11 paise up from Rs 82.61 per litre on Sunday. Transport fuel prices are the lowest in Delhi owing to the lower taxes imposed by the state government. Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. The constant rise in fuel prices has burnt a hole in the pockets of consumers.
Prices of petrol and diesel have been going up almost daily since August 1. They fell only once on August 13 and have been on record levels for nearly three weeks now. High crude oil prices and decline in value of rupee against US dollar are mainly responsible for constant rise in fuel prices. The central government has ruled out any reduction in the excise duty on petrol and diesel for now. Petrol, Diesel Price Rise Effect: Daily Use Products, Smartphones to Cost 5-8 Per Cent More as Fuel Rate Soars.
Earlier this month, the West Bengal government reduced the excise on petrol and diesel by Re 1 per litre each. The Karnataka government has also announced a reduction in cess on transport fuels by Rs 2 per litre each across the state effective from last Tuesday.
(The above story first appeared on LatestLY on Sep 24, 2018 08:22 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).