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Petrol Prices Crosses Rs 80 in Delhi, For the First time

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Petrol Prices Crosses Rs 80 in Delhi, For the First time

New Delhi, the national capital of Delhi, the price of petrol for the first time crossed Rs 80 per  liter as all time hig record.

Petrol in Delhi increased by Rs 0.39  to Record Rs 80.38 per liter while diesel by increased by Rs 0.44 to Rs 72.51 per liter on Saturday. The price of petrol and diesel is constantly increasing due to the rupee weakening against the US dollar and rising crude oil prices in the global market.

According to oil marketing companies, the price of petrol in Mumbai is 87.88 and diesel is priced at Rs 76.98 per liter. There is a huge difference in the value of petroleum products in different states due to the rate of VAT being different. Due to the burden of state taxes, petrol and diesel in Delhi are the cheapest in the metropolitan and state capitals. While these products are the most expensive in Mumbai.

Opposition parties have organized India bandh on 10th September in protest against the continuous increase in the value of petroleum products. Due to persistent price rise, demand for reduction of excise duty of these products has started to catch up again. However, the Union Finance Minister said that the price of crude oil in the international market is accelerating. Because of this, petrol and diesel are getting expensive.

From mid-September, the price of petrol has been increased by Rs 3.24 and diesel has been increased by Rs 3.74 per liter. The price of these products is also increasing due to the decline in rupee against the dollar. Crude oil imports cost dearly due to the fall in rupees. Apart from this, due to the taxes of the Central and State Governments, the price is quite high. The price of these products is only about half of the taxes.

The Central Government currently imposes Rs 19.48 on petrol and Rs 15.33 per liter on diesel. State excise after the price added to the price. In Mumbai, the highest VAT on petrol is 39.12 per cent, while in Telangana the highest 26 per cent VAT is on diesel. Delhi has 27 per cent of petrol and 17.24 per cent VAT on diesel.

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