Diesel Rates Continue to Rise & Pinch Common Man; Rs 77.93/Litre in Mumbai & Rs 74.35/Litre in Delhi, Petrol Unchanged
The increase in transport fuel prices is mainly attributed to the surge in crude oil prices and the decline in value of rupee against US dollar.
Mumbai, October 10: The diesel price has increased by Rs 0.24 per litre to Rs 74.35 litre in Delhi and Rs 77.93 (increased by Rs 0.25 per litre) in Mumbai. The petrol price remains the same as compared to Tuesday's price. Petrol in Mumbai is at Rs 87.73 and petrol in Delhi remains at Rs 82.26. Petrol, Diesel Price Rise: No Respite as Fuel Rates Continue to Surge Across Country.
On October 5, Union Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre. Additionally, the state-owned oil marketing companies have been mandated to reduce the prices of petrol and diesel by Re 1 a litre, which reduced petrol prices by Rs 2.5 across the country.
In BJP-ruled states, the reduction was higher as they matched the cut with a similar decrease in local sales tax or VAT. But the prices were on the rise from the very next day.
Prices of petrol and diesel vary from region to region due to local taxes, as fuel is excluded from the Goods and Services Tax (GST) regime. The increase in transport fuel prices is mainly attributed to the surge in crude oil prices and the decline in value of rupee against US dollar.
(The above story first appeared on LatestLY on Oct 10, 2018 09:18 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).