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  4. Fuel prices continues to spiral, Diesel rates near Rs 80-mark in Mumbai | Check revised rates here

Fuel prices continues to spiral, Diesel rates near Rs 80-mark in Mumbai | Check revised rates here

The revised rates of petrol and diesel in Delhi stood ar Rs 83.40/litre and Rs 74.63/litre respectively.

Written by: India TV News Desk New Delhi Updated on: September 29, 2018 6:40 IST
The revised rates of petrol and diesel in Delhi stood ar Rs

The revised rates of petrol and diesel in Delhi stood ar Rs 83.40/litre and Rs 74.63/litre respectively. 

Fuel prices skyrocketed yet again on Saturday. The petrol and diesel prices in Delhi were hiked by 22 paise and 21 paise respectively. The revised rates of petrol and diesel in Delhi stood at Rs 83.40/litre and Rs 74.63/litre respectively. 

On the other hand, after crossing the 90-mark in Mumbai earlier this week, the petrol prices yet again surged by 22 paise in Mumbai. The revised rates of petrol and diesel in the country's financial capital stood at Rs 90.75/litre and Rs 79.23/litre respectively.

Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes. Mumbai has the highest sales tax or VAT.

According to oil companies, refinery gate price of petrol, without considering any central or state tax and dealer's commission, is Rs 42.04 per litre. The same for diesel is Rs 45.34.

Retail rates are arrived at after adding excise duty, which is charged by the Central government, commission paid to petrol pumps dealers and VAT, charged by the state governments.

Dealer's commission on petrol currently is Rs 3.66 per litre and that on diesel is Rs 2.52.

Since mid-August, the petrol price has risen by Rs 5.58 a litre and diesel by Rs 5.3 - the most in any month since the daily price revision was introduced in mid-June last year.

The spiraling fuel prices have severely affected the household budget of the common man and Opposition has also been targeting the government over the issue. However, the BJP-led NDA government remains non-committal over slashing the rates.  

The Centre currently levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. On top of this, states levy Value Added Tax (VAT) -- the lowest being in Andaman and Nicobar Islands where 6 per cent sales tax is charged on both the fuels.

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