New Delhi, Aug 30: The sky-rocketing fuel prices continued the rise for fifth straight day on Thursday. The diesel prices per litre went up by by 18 to 21 paise per litre across metro cities while petrol price increased by 12-15 paise.
In Mumbai, Kolkata and Chennai, diesel prices rose to Rs 74.24, Rs 72.78, Rs 75.09 per litre, respectively. Petrol is being retailed at Rs 78.30 per litre in Delhi, Rs 85.72 per litre in Mumbai, Rs 81.23 per litre in Kolkata and Rs 82.60 in Chennai. With petrol and diesel prices going up by almost a rupee per litre within a fortnight, the government had on Wednesday hoped that the rally in global rates is temporary and they would decline soon. "I earnestly believe that this increase in oil prices is really temporary," said Economic Affairs Secretary Subhash Chandra Garg. The fluctuations were seen coming, he said. Fuel prices in Delhi are the cheapest among all metro cities and costliest in Mumbai. 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. High prices have off-and-on triggered demands for a reduction in excise duty but the government had ruled out any immediate cut. Petrol and diesel will not come under the purview of Goods and Services Tax (GST) in the immediate future as neither the Central government nor any of the states is in favour on fears of heavy revenue loss.