Fuel Rates Continue to Rise; Petrol Price Crosses Rs 88 Per Litre Mark in Mumbai, Diesel Above Rs 75 Per Litre in Delhi

Mumbai, October 13: Fuel prices continue to rise and seem to be hitting the record highs soon days after the government announced an excise duty cut. Petrol prices have crossed the Rs 88 per litre mark in Mumbai while the price of diesel was above Rs 75 per litre in Delhi. In Mumbai on Saturday, October 13, the price of petrol was at Rs 88.12 per litre, 18 paise more than what it was yesterday, while diesel price was at Rs 78.82 per litre, 31 paise more than what it was on Friday.

In Delhi, the price of petrol was Rs 82.66 per litre today while the price of diesel was Rs 75.19 per litre today.

Even as the prices of fuel continue to rise, reports quoting Finance Ministry official have said that the government asking oil PSUs to subsidise petrol and diesel prices by Re 1 per litre was a “one-time thing” and it does not intend to ask them to do it again.

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. Following this, several BJP ruled states also further reduced petrol and diesel prices by Rs 2.50 per litre.

(The above story first appeared on LatestLY on Oct 13, 2018 10:04 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).