INSUBCONTINENT EXCLUSIVE:
Fuel prices today: Mumbai has the highest sales tax or VAT.Petrol and diesel prices in the country continued their upward movement on Friday
with rates hitting fresh highs as oil marketing companies (OMCs) increased fuel cost across metro cities
In Delhi, petrol price touched Rs 81.28 per litre, up from Rs 81 on Thursday, according to a price notification of state-owned fuel
A litre of petrol is retailing today at a price of Rs 88.67 per litre, with a rise of Rs 0.28 per litre in Mumbai
A litre of petrol can be purchased today at Rs 84.49 in Chennai and Rs 83.14 in Kolkata.In tandem with the rise in petrol prices, diesel
prices also climbed to fresh highs
In Delhi, Mumbai, Chennai and Kolkata, diesel prices are at record levels of Rs 73.30, Rs 77.82 and Rs 77.49, Rs 75.15 per litre
On Thursday, fuel prices were raised in three metro cities, except Kolkata, where fuel prices fell after the West Bengal government cut
excise duty.Prices of petrol and diesel vary from one city to another because of differences in local sales tax or VAT (Value Added Tax) and
Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes
Mumbai has the highest sales tax or VAT.Except for halts on September 5 and September 12, fuel prices have been increased almost daily
across India over the past few weeks, owing to higher crude oil prices coupled with a depreciating rupee
Any fall in the Indian rupee against the US dollar makes the import of crude oil expensive as the transaction is done in dollars, reported
news agency Indo-Asian News Service (IANS)
However, the Indian rupee strengthened by 50 paise to 71.68 against the US dollar in early trade in the forex market today.Retail fuel rates
are arrived at after adding excise duty, which is charged by the Central government, commission paid to petrol pumps dealers and VAT,
charged by the state governments
Dealer's commission on petrol currently is Rs 3.34 per litre and that on diesel is Rs 2.52.Meanwhile, Rajasthan government announced a 4 per
cent cut in the state VAT on petrol and diesel on Sunday to reduce their prices by Rs 2.5 per litre in the state, while Andhra Pradesh
losses from the previous session when prices fell the most in a month, although worries that emerging market crises and trade disputes could
dent demand continued to drag
