Fuel cost in India is derived by taking into consideration the international crude price, Value Added Tax (VAT), excise duty and dealer commission.The weakening of the rupee against the US dollar has contributed to the continually rising fuel prices.
NEW DELHI: The prices of petrol and diesel touched a new high on Friday with Mumbai paying the maximum among the four metros.
While petrol costs Rs 87.39 a litre, diesel is priced at Rs 76.51 a litre, an increase of 48 paisa and 55 paisa respectively over Thursday’s price.
In Delhi, the petrol price rose to a record Rs 79.99 a litre, while diesel price has been increased to Rs 72.07 a litre.In Kolkata, the price of petrol has been increased to Rs 82.88 per litre while the diesel price has gone up to Rs 74.92 per litre.
Petrol is being sold for Rs 83.14 per litre in Chennai and the diesel retail price is Rs 76.18 per litre.Opposition parties will launch nationwide strikes and protests next week over record-high fuel prices.
On Thursday, the domestic currency breached the 72 mark against the US dollar for the first time ever. The rise in global crude oil prices pushes the domestic cost of petrol and diesel higher as the country is a net importer of crude oil.
On Wednesday, Finance Minister Arun Jaitley said that there was no need for a “knee jerk” reaction to the rising prices of global crude oil.
