Petrol price today: In Delhi, Mumbai and other cities, no respite in sight! Details here
Petrol price hike: The oil marketing companies raised petrol prices by 39 paise a litre and diesel by 44 paise per litre on Saturday.
It seems that there is no stopping to petrol and diesel prices rise. The petrol prices today crossed Rs 80 per liter mark in Delhi diesel touched its highest level of Rs 72.51 a litre.
The depreciating rupee has made imports costlier which has led to the consecutive rise in fuel prices. The experts have said that the Brent crude prices are expected to trade higher and may touch $82 to $85 in coming days. The oil prices had been directly linked with global Brent crude prices. The rising crude oil price and falling rupee make it difficult for oil prices to come down.
The oil marketing companies raised petrol prices by 39 paise a litre and diesel by 44 paise per litre on Saturday. With this increase, petrol now costs Rs 80.38 while diesel costs Rs 72.51 a litre in the national capital.
Petrol and diesel are the cheapest in Delhi among all metros due to lower taxes. Mumbai has the highest tax rates.
In Mumbai, a litre of petrol costs Rs 87.77 while diesel costs Rs 76.98.
Meanwhile, truck operators have decided to stage demonstrations to protest against rising diesel and petrol prices.
The government is also facing attacks from the opposition parties over the rising fuel prices. Opposition parties have called for a nation-wide 'Bharat Bandh' on Monday (September 10).
Since mid-August, the petrol price has risen by Rs 3.24 a litre while diesel by Rs 3.74 per litre. This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June last year.
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The Centre currently levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. On top of this, states levy Value Added Tax (VAT) -- the lowest being in Andaman and Nicobar Islands where 6 per cent sales tax is charged on both the fuels.