There was no relief for common man on Friday as well as fuel prices rose yet again. Petrol reached Rs 81.28 per litre (increase by Rs 0.28/litre) and diesel prices stood at Rs 73.30 per litre (increase by Rs 0.22/litre). Fuel prices witnessed hike in Mumbai too. The revised rate of petrol and diesel stood at Rs 88.67/litre (increase by Rs 0.28/litre) and Rs 77.82/litre (increase by Rs 0.24/litre) respectively.
Earlier on Thursday after being remaining stable for a day petrol and diesel prices were hiked again. In Delhi, petrol was being sold at Rs 81.00 per litre and diesel at Rs 73.08 per litre. While petrol prices were hiked by 13 paise, diesel saw a change of 11 paise.
In Mumbai, a litre of petrol was being retailed at Rs 88.39 per litre and diesel at Rs 77.58 per litre.
The skyrocketing fuel prices have severely affected the household budget of the common man and Opposition has also been targeting the government over the issue. However, the BJP-led NDA government remains non-committal over slashing the rates.
The Centre currently levies a total excise duty of Rs 19.48 per litre of petrol and Rs 15.33 per litre on diesel. On top of this, states levy Value Added Tax (VAT) -- the lowest being in Andaman and Nicobar Islands where 6 per cent sales tax is charged on both the fuels
Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel
The Central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
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