Fuel Prices Today: Delhi and Mumbai Continue to Witness Hike in Petrol and Diesel Rates
On October 5, Union Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre. However, the dynamic pricing has negated the reduction in fuel prices, with petrol and diesel prices rising everyday.
Mumbai, October 14: Petrol and diesel prices in India's national capital Delhi on Sunday are Rs 82.72 per litre (increase by Rs 0.6) and Rs 75.38 (increase by Rs 0.19) respectively. Petrol and diesel prices in India's financial capital Mumbai are Rs 88.18 per litre (increase by Rs 0.6) and Rs 79.02 per litre (increase by Rs 0.20) respectively.
Similar trends were witnessed in Chennai, where the prices of petrol and diesel reached Rs 85. 99 per litre and Rs 79. 71 per litre respectively.
In Kolkata, petrol is being sold at Rs 84. 54 per litre, while diesel has reached Rs 77.23-mark.
A steep hike has been witnessed in the fuel prices since the past few months.
The Opposition has repeatedly blamed the Union Government for not doing enough to keep a check on prices, while the latter has maintained that global crude oil prices and other international factors are causing a hike in prices of petroleum products. Petrol And Diesel Prices Down by Rs 2.50 Per Litre as Centre Cuts Excise Duty by Rs 1.50 Per Litre; OMCs to Reduce Fuel Rate by Re 1 Per Litre.
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. Excise Duty Cut on Petrol, Diesel to Cost Rs 10,500 Crore, Arun Jaitley Asks States to Reduce VAT on Fuel.
Following this, several BJP ruled states also further reduced petrol and diesel prices by Rs 2.50 per litre. But the dynamic pricing has negated the reduction in fuel prices that was announced by finance minister Arun Jaitley, which had initially come as a relief. Petroleum minister Dharmendra Pradhan has maintained that attempts at reducing fuel prices continue to hit a roadblock due to the increasing prices of crude in international market.
(The above story first appeared on LatestLY on Oct 14, 2018 08:34 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).