Fuel prices witnessed another hike across metros on Sunday, September 9, 2018, with petrol being sold at Rs 80.50 per litre while a litre of diesel now comes at Rs 72.61 per litre in Delhi. Hence, there is an increase in the petrol and diesel prices in the city by 12 paise per litre and 10 paise per litre respectively.
Mumbaikars too seem to have no respite from the situation as Sunday petrol is retailing at a whopping price of Rs 87.89 per litre with diesel price at Rs 77.09 per litre in the financial capital of India. The petrol price surged by 39 paise from 87.77 per litre while the hike in diesel price was 11 paise from Rs 76.98 per litre, according to the Indian Oil Corporation (IOC).
Talking about other metros, Sunday petrol can be purchased for Rs 83.66/litre in Chennai while a litre of diesel costs Rs 76.75. In Kolkata, the prices of petrol and diesel are at Rs 83.89/litre and 75.46/litre respectively. However, the prices may vary a little from an outlet to an outlet within a city.
The Oil Marketing Companies (OMCs) make the revised prices effective from 6 am on September 9, 2018.
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In Delhi, the fuel is cheapest among all metros and most state capitals in comparison to other cities due to lower sales tax or VAT. While Mumbai and Telangana levy the highest VAT (Value Added Tax) of 39.12 per cent and 26 per cent on petrol and diesel respectively, Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel.
Prices have been on fire since August 16, rising almost every day due to a combination of a drop in rupee value and rise in crude oil rates.
On being asked about rising fuel prices across India, Petroleum and Natural Gas Minister Dharmendra Pradhan earlier said, "It has now become essential to bring petrol and diesel under the purview of GST".
"As these two items are out of the GST, the nation has to bear a loss of about Rs 15,000 crore. If petrol and diesel are brought under the GST, it will be better for all including consumers," Pradhan added.
Meanwhile, Opposition parties have announced a nationwide strike on September 10 to protest against the record-breaking fuel prices, reportedly due to high taxes.
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The Congress, on the other hand, demanded a cut on excise duty as was done by the previous government whenever international oil prices shot up. However, the Centre has remained tight-lipped on reducing excise duty to cushion spiralling fuel prices and is yet to comment on the matter so far.
Almost half of the retail selling price of the two fuel is made up of central and state taxes.
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