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Last Updated : Sep 29, 2018 02:18 PM IST | Source:

Petrol price rises to Rs 90.75/litre in Mumbai, Rs 83.40/litre in Delhi

The price of petrol has crossed the Rs 90-mark in more than 20 of Maharashtra's 36 districts

Moneycontrol News @moneycontrolcom

Fuel prices continued to rise across the country on September 29. The price of petrol in Mumbai increased by 18 paise to Rs 90.75 per litre, while that of diesel rose by 22 paise to Rs 79.23 per litre.

In Delhi, prices of petrol and diesel were hiked by 18 paise and 21 paise, respectively. Petrol now costs Rs 83.40 per litre, while diesel is priced at Rs 74.63 per litre, according to the Indian Oil Corporation (IOC).

Chennai witnessed a petrol price hike of 19 paise and diesel price hike of 22 paise. Petrol now costs Rs 86.70 per litre and diesel Rs 78.91 per litre, respectively, in the city.

Read — Fact check | Are interest payments on UPA-era oil bonds responsible for high fuel prices?

Kolkata too recorded similar hikes in prices of petrol and diesel. The price of petrol was raised by 18 paise to Rs 85.21 per litre, while that of diesel was raised by 21 paise to Rs 76.48 per litre.

The price of petrol and diesel in other cities:
City Petrol price Price change (increase) Diesel price Price  change (increase)
  (Rs/litre (in paise) (Rs/litre) (in paise)
Bengaluru 84.06 18 75.01 21
Bhopal 89.18 19 78.63 22
Hyderabad 88.42 19 81.18 23
Lucknow 82.70 17 74.76 18
Port Blair 71.73 15 69.79 19

In Patna, prices of petrol and diesel were up 18 paise and 21 paise, respectively. Petrol now costs Rs 89.55 per litre in the city, while diesel costs Rs 80.30 per litre. The fuel prices in the city were unchanged on September 28.

Podcast | Digging Deeper - Fuel on the boil: What's behind the rise in prices?

Amid growing pressure to bring down fuel prices, the BJP-led Maharashtra government said the state would lose Rs 2,200 crore of revenue per year if it slashes prices of petrol and diesel by Rs 1 per litre.

The price of petrol has crossed the Rs 90-mark in more than 20 of Maharashtra's 36 districts.

Read — Northern states agree to fix uniform tax rates on fuel

Petroleum Minister Dharmendra Pradhan on September 26 blamed global factors for the increase in prices of petroleum products. He said reducing taxes on these items would not have any lasting impact because crude oil prices were still quite volatile.

"The basic problem is that crude prices are volatile. The effect of any measures, including a reduction in the value added tax (VAT) by the states and the excise duty by the Centre will not last long due to the volatility in crude prices," Pradhan said.

However, the minister also said that higher fuel prices are a matter of concern and that the government is finding ways to offer some relief to the public.

Read — Rahul Gandhi questions PM Narendra Modi on soaring fuel prices

The Centre currently levies an excise duty of Rs 19.48 per litre on petrol and Rs 15.33 per litre on diesel.

In addition to this, various states levy VAT at different rates. Mumbai has the highest VAT — 39.12 percent — on petrol, while Telangana levies the highest VAT — 26 percent — on diesel.

(With PTI inputs)
First Published on Sep 29, 2018 09:15 am
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