INSUBCONTINENT EXCLUSIVE:
A litre of petrol is vending at Rs
88.12 in Mumbai.Fuel prices hit fresh record highs on Monday after oil marketing companies (OMCs) raised petrol and diesel rates across the
Petrol prices crossed Rs 88 per litre in Mumbai today
According to a notification of state-owned fuel retailers, petrol was being sold at a price of Rs 80.73 per litre in Delhi, Rs
88.12 per litre in Mumbai, Rs
83.91 per litre in Chennai and Rs
83.61 per litre in Kolkata
Diesel was being sold at a price of Rs
72.83 per litre in Delhi, Rs
77.32 per litre in Mumbai, Rs 76.98 per litre in Chennai and Rs
75.68 per litre in Kolkata.Except for a halt on September 5, fuel prices have been hiked almost daily across India over the past few weeks
The drop in rupee value and the rise in crude oil rates are mainly responsible for the rise in fuel prices, reported news agency
to cushion spiralling prices, as it has limited fiscal space available to take any dent in revenue collections
The opposition called for a nationwide strike on Monday to protest against the rising fuel prices.Meanwhile, Rajasthan Chief Minister
Vasundhara Raje announced a four-per cent reduction in value-added tax (VAT) on petrol and diesel on Sunday, which will reduce prices by Rs
2.5 per litre in the state
VAT on petrol will be reduced from 30 to 26 per cent and on diesel from 22 to 18 per cent, stated the PTI report.On the other hand, oil
prices rose on Monday as US drilling for new production stalled and as the market eyed tighter conditions once Washington's sanctions
against Iran's crude exports kick in from November, reported news agency Reuters
