Fuel prices burn pockets, petrol at Rs 90.22 in Mumbai
Fuelled by an upward trend in the international crude prices, petrol prices were hiked again on Tuesday, taking the price of petrol to Rs 82.86 per litre in Delhi and Rs 90.22 per litre in Mumbai.
A litre petrol costs Rs 84.68 in Kolkata and Rs 86.10 in Chennai. Fuel prices are updated by the state-run Oil Marketing Companies on the basis of dynamic fuel pricing. Diesel costs Rs 74.12/litre in Delhi and Rs 78.69 per litre in Mumbai.
The Centre currently levies an excise duty of Rs 19.48/litre on petrol and Rs 15.33 per litre on diesel.
Fuel prices are lowest in the capital, followed by Kolkata. Various states levy Value Added Tax (VAT) on petrol and diesel. Mumbai has the highest VAT of 39.12 percent on petrol, while Telangana levies the highest VAT of 26 percent on diesel.
Prices of petrol and diesel have been on a rise since mid-August, increasing almost every day due to a combination of a drop in the dollar-rupee and rise in crude oil prices.