Since August 16, petrol pries have risen by over Rs 2 per litre.
Similarly, the price build-up of diesel in Delhi at ₹71.15 a litre includes excise duty of ₹15.33, dealer commission of ₹2.51, and Value-Added Tax of ₹10.46 (including Value-Added Tax on dealer commission).
Petrol prices were increased to Rs 86.72, Rs 82.22 and Rs 82.41 per litre in Mumbai, Kolkata and Chennai respectively on Tuesday.
Prices of petrol and diesel continued to increase for the tenth consecutive day today as fuel rates touched a new record high. In the national capital, the petrol is being sold at Rs 79.31/litre while the price of diesel is at Rs 71.34/litre. Brent crude oil is now priced over $78 per barrel.
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Mattis chose not to, a US official told Reuters . "We will listen to him and present our point of view to him as well", he said. The chairman of Pakistan's senate foreign relations committee, Mushahid Hussain, said the proposed cuts were "a sop to India".
"I would like to mention two points, and both these subjects are external".
The opposition has also launched an attack on the BJP government over the rising fuel prices.
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"Apart from that, crises in countries like Venezuela and Iran are increasing". With expectations of further tightening in oil prices due to a mix of factors such as declining inventories in the U.S., and Iran sanctions coming into place, the trend of rising petroleum prices is likely to continue. There is a pressure on oil prices due to decrease in production. The graph of petrol and diesel prices is continuing its upward movement since last week. "You can then buy petrol paying a dollar", he said.
Petroleum prices, which are determined by the cost of crude oil in global markets, may continue to go up as the worldwide markets are under pressure due the USA sanctions on Iran and Saudi Arabia's decision to cut oil production.