Watch | Decoding taxes on petroleum products

In India, petrol and diesel prices are high because of taxes. It accounts for about 40% of the retail fuel prices.

In this year, petrol prices have been raised by Rs. 4.05 per litre in Delhi, Rs. 4.01 per litre in Kolkata, Rs. 4 per litre in Mumbai and Rs. 4.26 per litre in Chennai, according to data from Indian Oil.

The central government said that because states earn more in taxes on petrol and diesel, they should cut fuel prices.

Watch the video to see how taxes on petroleum products are computed