Petrol and Diesel prices are hitting an all-time high. On Sunday, Maharashtra State-owned oil firms hiked petrol and diesel prices by 16 paise and 31 paise respectively. Thus, the latest price of petrol and diesel is now Rs 86.25 and Rs 75.12 per litre respectively.
This has renewed the demand to bring fuel prices under the ambit of goods and services tax or cut excise rates.
In the past five months, petrol and diesel prices have gone up by Rs 4.66 per litre and Rs 6.35 per litre. Fuel rates in Maharashtra are so high because of the imposed higher VAT and the surcharge. The state levies 25% VAT on petrol in Mumbai, Thane, Navi Mumbai, and 26% in the rest of the state, and a surcharge of Rs 9 per litre. For diesel, the VAT is 21% in Mumbai, Thane and Navi Mumbai and 22% in rest of the state, with a surcharge of Rs 1 per litre.
Malik Patel, secretary of Mumbai Bus Malak Sanghatana and Federation of Tourist Taxi Operators said, “Fare of private buses and tourist taxis will be increased up to 20%. We are compelled to pass the burden of price rise to commuters.”
This rise in fuel prices impacts consumers in a dual manner as passenger and goods transportation is expected to become costlier.

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