Fuel prices continue to rise, petrol nears Rs 90/litre in Mumbai

Petrol and diesel prices surged to record levels on Friday as oil companies once again hiked fuel rates across metro cities. In Delhi, the price of petrol increased by 28 paise per litre to Rs 81.28/litre, while diesel prices were hiked by 22 paise per litre to Rs 73.30/litre.

A litre of petrol was retailed at Rs. 88.67 in Mumbai, Rs. 84.49 in Chennai and Rs. 83.14 in Kolkata. Diesel was sold at a price of Rs. 73.30/ litre in Delhi, Rs. 77.82 per litre in Mumbai, Rs. 77.49 per litre in Chennai and Rs. 75.36 per litre in Kolkata.

After a day's lull, the upward march of fuel prices resumed Thursday with petrol price being hiked by 13 paise per litre and diesel by 11 paise, according to a price notification of state-owned oil marketing companies.

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. Mumbai has the highest rate of VAT or sales tax in the country.

Dealer's commission on petrol currently is Rs 3.34 per litre and that on diesel is Rs 2.52.

Domestic retail prices are benchmarked to international rates of the fuel.

Since mid-August, petrol price has risen by Rs 4.20 a litre and diesel by Rs 4.53.

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