Even as the opposition has called for a Bharat bandh, fuelled by an upward trend in the international crude prices, fall in the dollar-rupee petrol and diesel prices continued to scale new heights in India on Monday.
Petrol price crosses Rs 88 mark in Mumbai. As fuel prices burning a bigger hole in the pockets of the common man, post the rise a litre petrol costs Rs 80.73 in Delhi, Rs 88.12 in Mumbai, Rs 83.91 in Chennai, Rs 83.61 in Kolkata.
A litre diesel costs Rs 72.83 in Delhi, 75.68 in Kolkata, 77.32 in Mumbai, 76.98 in Chennai.
The rate of global crude oil, rupee-dollar exchange rate, excise duty, and VAT (Value Added Tax) levied by the ministry and state governments etc are the major deciding factors of fuel prices in India.
Earlier, on Sunday Rajasthan Chief Minister Vasundhara Raje announced a 4-per cent reduction in the VAT on petrol and diesel.
The VAT on petrol will be reduced from 30 to 26 percent and on diesel from 22 to 18 percent.
The exchequer will have to bear a cost of Rs 2,000 crore and will provide the people a relief of Rs 2.5 per litre on petrol and diesel.