Hike in fuel prices continue, petrol nears Rs 90 mark in Mumbai

Hike in fuel prices continue petrol nears Rs 90 mark in Mumbai

It was priced at Rs 89.01 in the financial capital of the country, up from Rs 88.67 per litre on Friday, data on the Indian Oil Corp's website showed. The revised price of petrol was recorded at Rs 89.29/litre.

In the other key cities of Delhi and Chennai too, petrol prices climbed fresh highs of Rs 81.63 and Rs 84.85, against the previous levels of Rs 81.28 and Rs 84.49 per litre respectively.

In Delhi, the petrol reached close to the Rs 82/litre-mark.

Fuel prices continued to climb across the country as petrol price on Sunday rose by Rs 0.28/litre in New Delhi and Mumbai. The Centre now levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.

The hike was higher in Chennai, as compared to Mumbai and Delhi. After the increase in prices, petrol is being sold at Rs 81.63 per litre and diesel at Rs 73.54 per litre in the national capital. Diesel is priced at Rs 77.94/litre after recording an increase of 20 paise/litre.

Cost of the other transportation fuel, diesel also increased on Saturday.

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Nearly half of the retail selling price of petrol and diesel is made up of central and state taxes.

Fuel prices have been rising due to a combination of a weaker rupee, higher global oil prices and heavy taxes.

The price build-up of petrol in Delhi as on September 10, includes excise duty of ₹ 19.48, dealer commission of ₹ 3.64, and Value-Added Tax of ₹ 17.16 (including Value-Added Tax on dealer commission).

Meanwhile, Bharatiya Janata Party (BJP) president Amit Shah has blamed global developments as a root cause for the rising petrol and diesel prices and dipping rupee value. We are also concerned about this.

The BJP chief on his visit to Hyderabad on September 15, said, "It was due to some developments that took place globally". A solution is also being found out.

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