Fuel Prices Unchanged Today; Petrol at Rs 88.29 Per Litre in Mumbai, Diesel at Rs 75.69 Per Litre in Delhi
Daily increase in the prices of petrol and diesel throughout the country, reversed the price cut by Centre and some states which decided to cut prices by Rs 2.50 following Centre's decision.
Petrol and diesel prices remained to be stable for the first time since Finance Minister Arun Jaitley announced a reduction in excise duty by Rs 1.50 a litre. In fact, ever since the reduction in fuel prices after the announcement by Finance Minister, Diesel is Delhi touched a new high since the rate cut and was sold at an all time high price of Rs 75.69 a litre. The highest amount earlier was Rs 75.45, which was before the forced reduction announced by Centre. There was daily increase in the prices of petrol and diesel throughout the country, reversing or negating the price cut by Centre and some states which decided to cut prices by Rs 2.50 following Centre's decision.
On Tuesday, October 16, petrol in Delhi cost Rs 82.83 per litre- which marked an increase by Rs 0.11 and Diesel amounted to Rs 75.69 per litre in the national capital- an increase by Rs 0.23, respectively. Delhiites have been appealing to the Delhi government to reduce the prices of fuel. One of the consumers was heard saying, "We have no option but to bear the high fuel prices. Appeal to the Delhi government to decrease tax on fuel prices."
Petrol and diesel prices in Mumbai continue to remain at Rs 88.29 per litre- an increase by Rs 0.11 and Rs 79.35 per litre- an increase by Rs 0.24, respectively. Fuel prices continue to remain the highest in Mumbai across the country as Mumbaikars reel under the rising fuel prices.
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. 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. 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 Monday, amid a continuous spike in fuel prices in India, Prime Minister Narendra Modi met chief executives of top global and Indian oil and gas companies. Narendra Modi Gives the Reason for High Fuel Prices, Says Unique Features of Marketing Pushed Up Oil Rates.
Prime Minister Narendra Modi made a strong case for a partnership between the producers and consumers in the oil market to reduce energy cost during the meeting. He said that this would help stabilise the global economy which is on the path of recovery. Interacting with CEOs and Experts from Oil and Gas Sector from India and Abroad in New Delhi, the Prime Minister drew their attention on certain key policy issues relevant to India.
(The above story first appeared on LatestLY on Oct 17, 2018 09:43 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).