Fuel Rates Continue to Rise, Petrol in Mumbai at Rs 87.82/Litre & Diesel at Rs 74.62 in Delhi
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 11: Petrol and diesel prices in Delhi are Rs 82.36 per litre (increase by Rs 0.10) and Rs 74.62 (increase by Rs 0.27) respectively. Petrol in Mumbai has increased by Rs 0.9 to Rs 87.82 and diesel is at Rs 78.22 per litre (increase by 0.29). Diesel Rates Continue to Rise & Pinch Common Man; Rs 77.93/Litre in Mumbai & Rs 74.35/Litre in Delhi, Petrol Unchanged.
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 11, 2018 09:16 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).