Fuel prices are seeing no respite anytime soon and in quick succession has climbed to new record high levels. On Saturday, petrol has breached Rs. 89 levels in the financial capital Mumbai surging by 34 paise to Rs. 89.01 from Rs. 88.67. In the national capital, petrol prices also climbed by 35 paise and is retailing at Rs. 81.63 for a litre. In other metro cities including Kolkata and Chennai, a litre of petrol is being for Rs 83.49 and Rs. 84.85 per litre, respectively.
Diesel also surged in price in Delhi and Mumbai and is being sold at Rs. 73.54 per litre, up by Rs. 0.24/ litre and and at Rs 78.07 per litre, higher by Rs. 0.25/litre in each of the two metros respectively. On Monday, the opposition called for a nation-wide 'Bharat Bandh' to protest against the rising fuel prices but the centre ruled out any immediate reduction in excise duty to bring down the fuel prices. However, the government urged the states to intervene and take necessary measures.
In line, Rajasthan reduced value added tax or VAT on fuel by 4% following which West Bengal and Andhra Pradesh slashed rates by Rs. 1 per litre and Rs. 2 per litre, respectively on both petrol and diesel.