New Delhi, Sep 17: The steep rise in fuel prices continued to rise on Monday, with petrol being sold at Rs 82.06 per litre in Delhi and Rs 89.44 per litre in Mumbai. There was an increase of 15 paise in prices of petrol across the country. Similarly, diesel prices went up as well. Diesel in the national capital is being sold for Rs 73.78 per litre, while a litre in Mumbai cost Rs 78.33 following an increase of six paise and seven paise respectively.

Fuel prices in the country have been going up almost daily since August 1. They fell only once on August 13 and have been on record levels for nearly two weeks now. The rising prices have burnt a hole in the pockets of consumers. Since the beginning of 2018, the petrol price in Delhi has gone up by 15.4 per cent from Rs 69.97 on January 1, 2018. The hike in diesel price has been even steeper. It has gone up by 22 per cent since January 1 when it cost Rs 59.70. Check rates of fuel in your city here.

Last week, petrol prices breached the psychological barrier of Rs 90 and touched a scorching Rs 90.11 in Maharashtra's Parbhani - a new record in India. The recent surge in transportation fuel prices is primarily attributed to high crude oil prices and a falling rupee. The central government has ruled out any reduction in the excise duty on petrol and diesel for now despite the retail prices hitting new highs daily. Petrol, Diesel Price Rise Effect: Daily Use Products, Smartphones to Cost 5-8 Per Cent More as Fuel Rate Soars.

Fuel in India is being sold at higher prices than other countries mainly because of central and state taxes on it. Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel. Recently, Rajasthan, Andhra Pradesh and West Bengal governments reduced the excise on petrol and diesel by Re 1 per litre each.

(The above story first appeared on LatestLY on Sep 17, 2018 08:17 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).