New Delhi, Sep 11: Petrol prices soared to fresh record high on Tuesday across the four metros. The revised rates are applicable from 6 am from today.
Both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. Weakening of the Indian rupee makes the import of crude oil expensive.
Petrol at Rs 80.87/litre (increase by Rs 0.14/litre) and diesel at Rs 72.97/litre (increase by Rs 0.14/litre) in Delhi. Whereas in Mumbai, Petrol at Rs 88.26/litre (increase by Rs 0.14/litre) and diesel at Rs 77.47/litre (increase by Rs 0.15/litre). In Chennai, petrol prices were seen at Rs 84.05 while in Kolkata, one litre of petrol is selling for Rs 83.75.
Earlier on Monday, the government said that it has no plans to reduce taxes on petrol and diesel in near future as neither the Centre nor some states can afford to suffer revenue loss from such a move, PTI quoted a government official as saying.
The official said that if the central government cuts excise duty on petrol and diesel, it will impact the fiscal deficit. On the other hand, states like Bihar, Kerala and Punjab are not in a position to cut sales tax (or VAT).