NEW DELHI: Petrol prices today hit the highest level since the BJP government came to power in 2014, and diesel touched a record high of Rs 63.20 a litre, prompting the oil ministry to seek a cut in excise duty.Petrol price rose to Rs 72.38 per litre in Delhi, highest since March 2014, according to daily fuel price list of state-owned oil firms.Rates have risen by Rs 3.31 per litre since mid-December. He however refused to give details.The central government levies Rs 19.48 per litre excise duty on petrol and Rs 15.33 on diesel.VAT on petrol in Delhi is Rs 15.39 per litre while on diesel it is Rs 9.32.Brent and US West Texas Intermediate crude - two of the most traded benchmark, today rose to USD 69.41 per barrel and and USD 63.99 respectively. Brent is not far off the January 15 three-year high of USD 70.37 a barrel. Rates during the first fortnight starting June 16 dropped but have been on the rise since July 4.Since then prices are revised on daily basis. Today, price of petrol went up by 15 paisa per liter and that of diesel by 19 paisa.

Source: Economic Times January 23, 2018 08:26 UTC