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Petrol price hits a record high in Mumbai

Petrol prices have hit an all-time high in Mumbai. On September 3, 2018, the price of petrol in the city was Rs. 86.65 per litre, beating the previous all-time high of Rs. 86.25. The price of diesel has also hit a record high. In Mumbai, a litre of diesel cost Rs. 75.54 per litre.

Since August 2018, petrol prices have gone up by Rs. 2 per litre, while diesel prices been hiked by Rs. 2.42 per litre. Apart from crude oil prices in the international market and the weakening rupee, one of the factors affecting fuel prices is the high value added tax (VAT) in the state of Maharashtra. However, it has been reported that efforts are on to bring petrol and diesel under the ambit of the Goods and Services Tax (GST), which could give some respite from rising fuel prices.

Fuel prices in other cities have also been on the rise. The price of petrol in Delhi was Rs. 79.15 per litre on September 3. In Kolkata, a litre of petrol cost Rs. 82.06, while in Chennai it was priced at Rs. 82.24.

Source: LiveMint

 
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