Despite Union Minister Nitin Gadkari admitting that the hike in fuel prices is causing problems for the commoners, the increase in petrol and diesel prices remains. In Mumbai, the petrol on Friday is being sold at ₹89.69 per litre which is the highest among any metropolitan city across India.
Since July 28, the petrol and diesel prices have not decreased in Delhi and Mumbai even for a single day. With the Modi government moving away from its responsibilities, it is difficult to expect a drop in fuel prices.
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However, Maharashtra government plans to increase the excise duty on liquor to reduce the petrol and diesel prices. Mumbai has the highest Value Added Tax (VAT) rate of ₹39.12 per cent on petrol.
With central government applying ₹19.48 as excise duty on petrol and ₹15.33 on diesel, a total of 40 to 50 per cent tax is added to the original price of petrol and diesel.
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