State owned oil marketing companies (OMCs) increased the price of sensitive petroleum products like petrol and diesel in the country again on Monday.
The prices of petrol and diesel touched a new high with Mumbai paying the maximum among the four metros.
Petrol now costs ₹89.44 a litre in Mumbai, ₹82.06 a litre in Delhi, ₹83.91 a litre in Kolkata and ₹85.31 a litre in Chennai, according to the daily price notification issued by OMCs.
Similarly, diesel prices were increased to ₹78.33 a litre in Mumbai, ₹78 a litre in Delhi, ₹75.63 a litre in Kolkata and ₹78 a litre in Chennai.
The petrol prices have gone up about 6% while diesel prices have gone up by 8% in the last one month.
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).
The fuel prices are likely to go up further as price of brent oil was still hovering over $78.5 a barrel while the Indian rupee slipped to ₹72.64 per U.S. Dollar on Monday.
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.