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Fuel prices high on steep rise in taxes; petrol up Rs 11 in 3 months

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Business News>Markets>Commodities>News>Fuel prices high on steep rise in taxes; petrol up Rs 11 in 3 months

Synopsis

A steep rise in taxes has kept fuel prices high despite lower international rates with which domestic rates are expected to be aligned.

High prices, extended lockdowns and weak economic recovery have been weighing on fuel demand recovery.

New Delhi: Petrol prices have risen by 1.6 a litre in a fortnight and by nearly Rs 11 per litre in three months. Petrol sold for Rs 82.03 a litre in Delhi and Rs 88.68 in Mumbai on Monday. Diesel prices have remained unaltered in August at Rs 73.56 a litre in Delhi and Rs 80.11 in Mumbai. A steep rise in taxes has kept fuel prices high despite lower international rates with which domestic rates are expected to be aligned. High prices, extended lockdowns and weak economic recovery have been weighing on fuel demand recovery.

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