Even on the occasion of festivals, the impact of inflation is not giving up on the common man. Petrol and diesel prices have been increasing for the last several days. On Tuesday, November 2, fuel rates witnessed a hike for the seventh consecutive day.
In Mumbai, petrol prices increased by 35 paise per litre bringing it an inch closer to INR 116 per litre. It is being sold at INR 115.85 per litre.
Meanwhile, diesel rates are stagnant at INR 106.62. Moreover, in Pune petrol is being sold at INR 115.34 per litre and diesel touched INR 104.48 per litre.
The divergence in prices between Delhi and Mumbai is due to various local VAT charges in different cities.
The prices of petrol and diesel are increasing in the country due to the huge increase in excise duty by the central and state governments. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT.
Petrol has become costlier by about INR 2.45 in the last seven days, while the price of diesel has increased by INR 2 a litre. Price of petrol and diesel is updated daily based on the price of crude in the international market along with forex rates.
Share
Tweet
