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Petrol and diesel prices touched record highs on Monday on the back of a fall in the dollar-rupee and surge in global crude oil rates.
In Mumbai, prices of petrol and diesel saw a 23 paise hike each to Rs 88.12/litre and Rs 77.32/litre, respectively, according to a price notification issued by Indian Oil Corporation (IOC).
In Delhi, the petrol and diesel prices rose 23 paise and 22 paise, respectively. The increase pushed the price of petrol in the national capital to Rs 80.73/litre. Diesel touched a fresh high of Rs 72.83 a litre.
Petrol and diesel prices gained 25 paise and 23 paise in Chennai, respectively. Following the hike, petrol and diesel quoted a record high of Rs 83.91 and Rs 76.98 a litre, respectively.
The price rise in petrol was slightly lower in Kolkata in comparison of other metropolitan cities. It gained 22 paise to Rs 83.61 per litre. A similar hike was seen in the case of diesel, now retailing at Rs 75.68/litre.
To protest against rising prices of essential commodities, Congress and other opposition parties have called for a Bharat Bandh across the country.
Meanwhile, the Rajasthan government announced a four percent reduction in value-added tax (VAT) on petrol and diesel on September 9.
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 VAT.
Mumbai has the highest VAT of 39.12 percent on petrol, while Telangana levies the highest VAT of 26 percent on diesel. Delhi charges a VAT of 27 percent on petrol and 17.24 percent on diesel.
(With inputs from PTI)
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