Petrol price hits record high, diesel rate remains stable for third day - September 21 fuel rates here

Petrol price was Friday hiked by about 10 paise per litre while the rates of diesel kept stagnant for the third consecutive day in metropolitan cities across India. Following the revision, a litre of petrol is being sold for Rs 82.32 in Delhi while diesel is at its earlier price of Rs 73.87 per litre Friday.

In Mumbai, the petrol price was increased by 9 paise per litre by the Oil Marketing Companies (OMCs). The latest pushed the price to a record high of Rs 89.69 per litre Friday. After three days of hiatus, diesel is retailing at Rs 78.42 per litre in the financial capital as was on Wednesday.

"Petrol and Diesel prices in Delhi are Rs.82.32 per litre & Rs.73.87 per litre, respectively. Petrol and Diesel prices in Mumbai are Rs.89.69 per litre and Rs.78.42 per litre, respectively," the news agency ANI reported. The revised rates are effective from 6 am on September 21, 2018.

Read | Modi government can no longer escape pruning fuel prices for a favourable poll verdict

Prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT. Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel.

The fuel price has been witnessing a steep rise since August 16. Earlier, Union Petroleum and Natural Gas Minister Dharmendra Pradhan had blamed international factors like crude oil rates and the depreciating rupee for the hike in the prices of petroleum products.

Read | Government approves scheme to provide cash during job loss

Almost half of the retail selling price of the two fuel is made up of central and state taxes.

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.