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Fuel price hike: Petrol prices at record high, breach Rs 91/litre mark in Mumbai

Fuel price hike: With petroleum still excluded from the GST regime, prices vary according to local taxes. Delhi has cheap fuel rates because of lower taxes.

By: Express Web Desk | New Delhi | Updated: October 1, 2018 6:42:48 pm
Fuel price hike: Petrol prices at record high, breach Rs 91 mark in Mumbai Petrol, in national capital New Delhi, costs Rs 83.73 a litre and diesel is retailing at Rs 75.09/litre.

Keeping up with its record-breaking climb, petrol prices today breached the Rs 91 mark in Mumbai. A litre of petrol in Mumbai costs Rs 91.08, up from Sunday’s Rs 90.84 a litre. Diesel price also registered a surge of Rs 0.32 in Mumbai and costs Rs 79.72 per litre. Petrol, in Delhi, costs Rs 83.73 a litre and diesel is retailing at Rs 75.09/litre.

Among the other cities, a litre of petrol costs Rs 84.40 in Bengaluru, Rs 85.53 in Kolkata, Rs 87.05 in Chennai, Rs 83.03 in Lucknow. Diesel, on the other hand, is retailing at Rs 75.48/litre in Bengaluru, at Rs 76.94/litre in Kolkata, Rs 79.40/litre in Chennai, Rs 75.22/litre in Lucknow, according to the Indian Oil Corporation (IOC), the largest fuel retailer in India

With petroleum is still excluded from the GST regime, prices vary according to local VAT rates. Delhi has cheap fuel rates because of lower taxes. Mumbai, on the other hand, has the highest VAT. Maharashtra levies 25 per cent value-added tax (VAT) on petrol in Mumbai, in addition to a surcharge of Rs 9 for a litre across the state. For diesel, the VAT is 21 per cent in Mumbai, with a surcharge of Rs 1 for a litre across the state. A litre of petrol was retailing above Rs 90 in many districts across Maharashtra for the past few days.

The increase in transportation fuel prices comes amid surging crude oil prices. Targetting the central government, Maharashtra Congress last week performed a solemn “shraaddh” (a post-death ritual) of cans of petrol and diesel, and US Dollar in wake of the spiralling fuel prices in the state. The party also said the fuels have now become befitting gifts for weddings.

In a bid to reduce the burden on common man, the states of Andhra Pradesh, Karnataka, West Bengal and Rajasthan have cut down the fuel prices in the state. Owing to the foreign exchange fluctuations, price of non-subsidised LPG in Delhi was hiked by Rs 59 per cylinder. The new prices come into effect from today. Subsidised cooking gas price has also been hiked by Rs 2.89 per cylinder to Rs 502.4 per cylinder.

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