The record value fall in the Indian rupee started to show its effects on the prices of the diesel and petrol as they reaches the record high mark today. While diesel price is hiked about 14 paise per litre, petrol prices increases to about 13 paise mark.
The diesel prices in Mumbai reaches to Rs 73.79 per litre while petrol prices marked the edge price of Rs 85.33 per litre. In Delhi, Petrol will cost Rs 77.91 per litre and diesel price reaches to Rs 69.51 per litre.
The prices in Delhi and Mumbai is still lower than what it was at its peak on May 29 when petrol was at Rs 78.43 per litre in Delhi and Rs 86.24 per litre in Mumbai.
The increase in the fuel prices started soon after rupee fall to its lowest price against the US Dollar. The fluctuations in the prices of diesel and petrol came as an effect of the decision made by the oil firms to revise the rated each day instead of revising it on the 1st and 16th of every month earlier.
The excise duty levy Value added tax (VAT) imposed by the central government on petrol is Rs 19.48 per litre while on diesel it is Rs 15.33 per litre. The highest VAT on petrol is levied on Mumbai of 39.12% while highest VAT on diesel is on Telangana of 26%.