INSUBCONTINENT EXCLUSIVE:
Petrol and diesel prices vary from city to city due to local taxes and transportation cost.Petrol prices surged to new highs on Saturday as
oil marketing companies (OMCs) raised the rates across four metro cities
However, diesel prices were kept stagnant for fourth consecutive day
In Delhi, petrol was sold at Rs 82.44 per litre, up from Rs 82.32 per litre on Friday
In Mumbai, petrol was retailed at Rs 89.80 per litre, nearing Rs 90 per litre mark
A litre of petrol was purchased at a price of Rs
84.27 in Kolkata, according to a price notification of state-owned fuel retailers.Here are 10 things to know about petrol prices, diesel
Diesel was being sold at a price of Rs
73.87 per litre in Delhi, Rs.78.42 per litre in Mumbai, Rs.78.10 per litre in Chennai and Rs
75.72 per litre in Kolkata on Saturday
Diesel rates were same on Friday also.2
Petrol and diesel prices vary from city to city due to local taxes and transportation cost
The surge in fuel prices is largely attributed to the rise in crude oil cost and the high excise duty levied on transportation fuel in the
Depreciating rupee also makes import of crude oil costlier and leads to a surge in fuel prices.5
Delhi currently charges a VAT (Value Added Tax) of 27 per cent on petrol and 17.24 per cent on diesel
Mumbai has the highest VAT of 39.12 per cent on petrol.6
Telangana levies the highest VAT of 26 per cent on diesel.7
Maharashtra has the highest fuel cost among all the states as it charges the highest VAT on the petrol and diesel at a little over 39 per
The Centre currently levies a total of Rs.19.48 per litre of excise duty on petrol and Rs
Globally, oil prices rose ahead of a meeting of the Organization of Petroleum Exporting Countries (OPEC) and other large crude exporters on
Sunday that is expected to focus on production increases as US sanctions restrict exports from Iran.10
OPEC and other oil producers are discussing the possibility of raising output by 500,000 barrels per day (bpd) to counter falling supply
from Iran, reported news agency Reuters
