Fuel cost in India is derived by taking into consideration the international crude price, Value Added Tax (VAT), excise duty and dealer commission.Petrol and diesel prices were hiked Thursday after a one-day gap.
NEW DELHI: On Wednesday, petrol was at Rs 79.31 and diesel at 71.34 per litre in Delhi. In Mumbai, a litre of petrol was retailed at Rs 86.72 and diesel at 75.74 per litre.
After remaining unchanged for a day, petrol and diesel prices rose by around 20 paise across the major cities on Thursday.
In Delhi and Mumbai, petrol is retailing at Rs 79.51 and Rs 86.91 per litre respectively, according to a price notification of state-owned fuel retailers.
Diesel prices also saw a similar increase.In Delhi, the rate of the key transportation fuel went up by 21 paise to be priced at Rs 71.55 per litre.
In Mumbai, its price increased by 22 paise to touch a new all-time high of Rs 75.96 per litre.Indian fuel prices continue to rise, and consumers facing the brunt.
Prices of petrol and diesel prices are at all-time highs on the back of rising crude oil prices and a depreciating rupee.
Finance Minister Arun Jaitley on Wednesday remained non-committal on cutting excise duty to cushion spiralling petrol and diesel prices saying international oil prices are volatile and have not shown any linear movement.
Former Finance Minister Yashwant Sinha on Tuesday slammed the union government for the unprecedented hike in prices of petrol and diesel.
Both petrol and diesel prices have been touching new all-time high levels for around a week, in line with the recent rise in crude oil prices.
