Prices of petrol and diesel hikes for 5th consecutive day; becomes costlier by 23 paise
New Delhi, July 9: As the whole country is dwelling with the ill effects of the rising petrol and diesel prices, the prices rose for the 5th consecutive day with both of them becoming costlier by 23 paise per liter.
According to data available on India Oil Corporation website, petrol was trading at Rs 76.36 per liter in the National capital on Monday compared to Rs 76.13 on Sunday. Meanwhile, diesel in New Delhi was priced at Rs 68.07 as against Sunday's price of Rs 67.86. In other major cities like Mumbai, Chennai, and Kolkata, petrol was retailing at Rs 83.75, Rs 79.25 and Rs 79.03 paise respectively. Similarly, diesel was priced at Rs 71.85 in Chennai, Rs 70.62 in Kolkata and Rs 72.23 in Mumbai.
It may be noted that petrol, diesel prices were hiked for the first time after more than one month on Thursday on the back of rising international crude prices and weakening rupee. In the preceding month, retail fuel rates had been cut in line with dropping international rates. Prices had hit an all-time high of Rs 78.43 a liter for petrol and Rs 69.31 per liter for diesel on May 30. That peak had triggered demands for a reduction in excise duty but the government had ruled out any immediate cut.
The Centre currently levies a total of Rs 19.48 per liter of excise duty on petrol and Rs 15.33 per liter on diesel. On top of this, states levy Value Added Tax (VAT) - the lowest being in Andaman and Nicobar Islands where a 6 percent sales tax is charged on both the fuel. 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.