Fuel price touches fresh high; Petrol near Rs. 90 in Mumbai

Fuel price continues to rise Petrol hits record high of Rs 80.73 in Delhi Rs 88.12 in Mumbai

Since the States are having an incremental revenue over the budgeted one, they could cut, on an average, petrol prices by ₹3.20 a litre and diesel by ₹2.30 a litre without affecting their revenue arithmetic.

As many as 21 political parties partook in the Bharat Bandh yesterday, which was initiated by Congress and other leading Opposition parties.

However, the court asked the government to consider an earlier representation pending before it on price rise of petrol and diesel and listed the matter for further hearing on November 16.

The price of petrol touched Rs 88.26 a litre in Mumbai - an increase of Rs 0.14 a litre compared to Monday, reported ANI. While on purchase of 25,000 litres of diesel the buyer can get an automatic washing machine, they can get a split AC or a laptop on purchase of 50,000 litres.

On Monday, opposition parties, led by the Congress, called a nationwide strike against the constant rise of fuel prices and degradation of rupee against United States dollar. "While crude prices are plummeting in worldwide markets, the increase of fuel prices in India is disheartening". In Parbhani in the region, today's retails price is Rs 90.12.

Since mid-August, petrol price has been marked up by Rs 3.24 a litre and diesel by Rs 3.74 per litre as the rupee hit a record low against the United States dollar, making petroleum imports costlier.

Here, the prices of both diesel and petrol remain under Rs 80 per litre. In Mumbai and Thane, the Maharashtra government charges a VAT/sales tax at 39.12 per cent on petrol, and 24.78 per cent on diesel.

The prices of petrol and diesel are under Rs 70 per litre in Port Blair, the capital of the Andaman and Nicobar Islands. The Chief Minister condemned the statement of Union Petroleum Minister Dharmendra Pradhan that petrol prices had increased because of the increase in crude oil prices in the global market and increase in Value-Added Tax by state governments.

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