New Delhi: Fuel prices climbed to fresh heights in Delhi and Mumbai on Sunday. Petrol prices in the national capital rose to Rs 83.49 per litre. Meanwhile, diesel prices also increased to Rs 74.79 per litre. In Mumbai, petrol and diesel prices rose to Rs 90.84 per litre & Rs 79.40 per litre respectively. Also Read - COVID Second Wave 'Very Dangerous', Newborns, Children Between Age 1-5 Among Those Affected: Doctors
On Saturday, petrol and diesel prices in Delhi were recorded at Rs 83.58 per litre and Rs 74.88 per litre. Meanwhile, petrol prices in Mumbai were Rs 90.93 per litre. Diesel was sold at price at Rs 79.49 per litre. Also Read - Impose 10-Day Complete Lockdown in Delhi: Traders Body to CM Kejriwal Amid Surge in COVID Cases
Notably, the fuel price has been witnessing a steep rise since the past few weeks. Union Petroleum and Natural Gas Minister Dharmendra Pradhan had blamed international factors for the hike in the prices of petroleum products. Reportedly, the Centre has no plans to reduce taxes on petrol and diesel prices in the near future as neither the Central government nor some states can afford to suffer revenue loss from such a move. As per Finance Ministry estimates, every Rs 2 cut in the prices of petrol and diesel would lead to a revenue loss of around Rs 30,000 crore. The government said that it would not take any knee-jerk action as a response to the fall in rupee or spike in fuel prices. Also Read - Mumbai's Haffkine Institute Gets Centre's Nod to Produce Covaxin; CM Thackeray Thanks PM Modi
Further, the retail price of petrol and diesel is arrived at after adding excise duty, which is charged by the Central government, commission paid to petrol pumps dealers and VAT, charged by the state governments. 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. Since mid-August, the petrol price has risen by Rs 3.92 a litre and diesel by Rs 4.31 per litre.
On Saturday, Congress President Rahul Gandhi attacked Prime Minister Narendra Modi over the rising fuel prices, while also taking a dig at him on Rafale deal and the falling value of the Indian rupee.