Prices of petrol, diesel continue hurt pockets

Thanks to the state-owned oil marketing companies (OMCs), the price of sensitive petroleum products like petrol and diesel have again increased in the country.
The prices of petrol and diesel touched a new high on Sunday with Mumbai paying the maximum among the four metros. While petrol costs ₹87.89 a litre, diesel is priced at ₹77.09 a litre, according to the daily price notification issued by OMCs, media reports said.
The petrol price in Delhi has been risen to a record ₹80.50 a litre, while diesel price has been increased to ₹72.61 a litre, which is also at a record high, but lowest among the four metros, the report said.
The price build-up of petrol in Delhi as on Monday includes excise duty of ₹19.48, dealer commission of ₹3.63, and VAT of ₹16.83 (including VAT on dealer commission).
Similarly, the price build-up of diesel in Delhi as of Monday includes excise duty of ₹15.33, dealer commission of ₹2.51, and VAT of ₹10.46 (including VAT on dealer commission).
In Kolkata, the price of petrol has been increased to ₹83.39 per litre while the diesel price has gone up to ₹75.46 per litre. Similarly, petrol is being sold for ₹83.66 per litre in Chennai and the diesel retail price is ₹76.75per litre.
The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72.12 against the U.S. dollar on Thursday, while price of Brent oil was still hovering over $77 a barrel.
India imports about 80 per cent of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices, the reports highlighted.

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