Petrol, diesel prices go up again. Check rates in your city – business news

Prices of petrol and disease went up on Saturday as oil companies continued to raise the fuel rates in line with costs.

Petrol price has been increased by 25 paise per litre and diesel by 21 paise per litre in Delhi, according to a price notification of state oil marketing companies.

Customers will have to pay Rs 80.38 for every litre of petrol and Rs 80.40 for diesel in the national capital. On Friday, the petrol price was increased by 21 paise per litre and that of diesel by 17 paise per litre.

In Mumbai, petrol will cost Rs 87.14 per litre and diesel Rs 78.71 per litre.

Also read: Here’s how to check the latest petrol, diesel rates

Petrol prices, except for Wednesday, have also gone up across the country since June 7, when oil marketing companies resumed the daily revision of prices after 82 days due to Covid-19.

Diesel prices in Delhi had shot past petrol prices on Wednesday for the first time ever.

Opposition parties have been attacking the government over the fuel price hike and the Congress has said it will hold mass protests across the country on Monday over the “unprecedented” rise in petrol and diesel prices.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or value-added tax (VAT).

Taxes make up for nearly two-thirds of the retail selling price. As much as Rs 50.69 per litre or 64% in petrol price is due to taxes—Rs 32.98 is the central excise duty and Rs 17.71 is local sales tax or VAT.

In the case of diesel, over 63% of the retail selling price is taxes. Out of the total tax incidence of Rs 49.43 per litre, Rs 31.83 is by way of central excise and Rs 17.60 is VAT.

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