Diesel and petrol prices rise by around 50 paise per litre

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Diesel and petrol prices rise by around 50 paise per litre

The price of petrol increased from Rs 79.31 per litre on Wednesday to Rs 79.51 on Thursday in Delhi. An official told the daily that the government can not, "disturb fiscal maths by cutting excise duty on petrol and diesel".

In Mumbai, Chennai and Kolkata, petrol per litre is Rs 87.39, Rs 83.13 and Rs 82.88.

The Centre now levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.

The opposition has also launched an attack on the BJP government over the rising fuel prices.

Diesel rates had hit Rs 69.31 a litre on May 28, but this record was breached on August 27, since then diesel prices have been recording a fresh high every day in the national capital and across the country.

On Tuesday, former Finance Minister P Chidambaram had stated that the "Relentless rise in prices of petrol and diesel is not inevitable".

India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices.

Fuel prices in India have gone up again. He also did not comment anything on reducing the excise duty to counter the steep rise in the fuel prices. Presently, centre levies a total of Rs 19.48 per litre of excise duty on petrol and Rs 15.33 per litre on diesel.

Petrol pump operators said over the past 10 days, the maximum fuel prices rose to was 42 paise a litre. While rising crude oil prices is being posed as one of the reasons behind increasing prices, reportedly, the crude oil prices between the years 2011 to 2013 crossed the $100 mark. Additionally, prices in Delhi are the cheapest among all metros mainly due to lower Value-Added Tax rates, and Mumbai has the highest Value-Added Tax on petrol at 39.12%.

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