The prices of fuel continue to soar high day by day. The prices of petrol which have crossed the mark of Rs 90 earlier is being today sold at Rs 91.34 per litre (increase by Rs 0.14) in India’s financial capital Mumbai. While the prices of diesel have also touched a new height and being sold at Rs 80.10 per litre (increase by Rs 0.21) in Mumbai.
The petrol and diesel prices are the highest in Maharashtra due to heavy VAT imposed by the Maharashtra government. The latest hike in prices of fuel came into effect from 6:00 AM.
On the other side, in Delhi, the petrol price increased by 15 paise to cost Rs 84 per litre whereas, the diesel price rose by 20 paise to cost Rs 75.45 per litre. Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes.
Since mid-August, the petrol price has risen by Rs 6.59 a litre and diesel by Rs 6.37 – the most in any six weeks after the daily price revision was introduced in mid-June last year. Despite massive consumer protests, Union petroleum minister Dharmendra Pradhan ruled out reducing taxes on these items. Blaming global factors, he said a tax cut, if approved, won’t have any lasting impact due to volatile crude prices.
Also on Monday, domestic cooking gas (LPG) rates were hiked by Rs 2.89 per 14.2-kg cylinder to Rs 502.40 on account of higher GST applicable on the base price. This is the fifth straight monthly increase in subsidized LPG rates. It was priced at Rs 491.21 in May.