more-in State-owned oil marketing companies (OMCs) have again increased the price of sensitive petroleum products like petrol and diesel in the country on Saturday. The prices of petrol and diesel touched a new high on Saturday with Mumbai paying the maximum among the four metros. While petrol costs ?89.01 a litre in Mumbai , diesel is priced at ?78.07 a litre according to the daily price notification issued by OMCs. In Delhi, the petrol price has been risen to a record ?81.63 a litre, while diesel price has been increased to ?73.54 a litre, which is also at a record high, but lowest among the four metros. The petrol prices have gone up about 6% since August 1, while the diesel prices went up by 8% during the same period. The price build-up of petrol in Delhi as on September 10, includes excise duty of ?19.48, dealer commission of ?3.64, and VAT of ?17.16 (including VAT on dealer commission). Similarly, the price build-up of diesel in Delhi includes excise duty of ?15.33, dealer commission of ?2.52, and VAT of ?10.70(including VAT on dealer commission). In Kolkata, the price of petrol has been increased to ?83.49 per litre while the diesel price has gone up to ?75.39 per litre. Similarly, petrol is being sold for ?84. 85 per litre in Chennai and the diesel retail price is ?77.74 per litre. To go up further The fuel prices are likely to go up further as price of Brent oil was still hovering over $78 a barrel. India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices. State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on the first and 16th of every month. India imported crude oil worth ?2,640,30 crore (over $39 billion) between April and July 2018, according to the data by the Petroleum Planning and Analysis Cell.

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