Fuel Prices Surge Again; Petrol At Rs. 91.34 A Litre in Mumbai
Mumbai: The prices of petrol and diesel surged by 23 paise on Thursday. While petrol has touched Rs 84 per litre mark in Delhi, diesel is selling at Rs 75.45 per litre in the national capital. In Mumbai, petrol is selling at Rs. 91.34 per litre. Diesel crossed the Rs 80 mark for the first time in Mumbai, recording 21 paise rise from the previous hike.
Similarly, the 23 paise increase has pushed the prices of petrol and diesel to Rs. 82.89 and Rs. 81.06 respectively in Bhubaneswar. Petrol has already crossed the Rs 92 per litre mark in several districts of Maharashtra as well as Bihar.
Despite a continuous rise in fuel prices, the Centre has refused to cut tax levied on fuel. At present, the Central government charges Rs 19.48 excise duty on petrol and Rs 15.33 on diesel. However, some states like Rajasthan, West Bengal, Andhra Pradesh and Karnataka have reduced the VAT on diesel and petrol to curtail their sky-rocketing prices.
The surge in fuel prices are being attributed to global trends like rising crude oil prices which touched a four-year high of $86.74 a barrel on Wednesday. Market analysts have opined that the US sanctions on Iran’s energy industry, when it would come into effect on November 5, could potentially spike the petrol, diesel and LPG prices further in India.