Fuel price hike: A litre of petrol now costs Rs. 91.08 in Mumbai

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Petrol prices today touched the Rs. 91 mark in Mumbai, bringing fresh worries for the increasing climb of the price. A litre of petrol in Mumbai now costs Rs 91.08, up from Sunday’s Rs 90.84 a litre. Diesel price has surged to Rs 0.32 in Mumbai and costs Rs 79.72 per litre. Petrol, in Delhi, costs Rs 83.73 a litre and diesel 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.

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Even after petroleum being excluded from the GST regime, prices vary due to VAT rates. Delhi has cheap fuel rates because of lower taxes. Mumbai, however, 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 alarming increase in fuel prices comes amidst rising crude oil prices. The Maharashtra Congress, in a jab at the government of India, said the fuels have now become befitting gifts for weddings.

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Andhra Pradesh, Karnataka, West Bengal and Rajasthan have cut down the fuel prices in the state. Due to foreign exchange fluctuations, price of non-subsidised LPG in Delhi surged 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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