Mumbai, December 17: The prices of petrol and diesel witnessed a steep hike on Monday, December 17, two months after continuously falling down. People across the country woke up to higher fuel prices today. The price of petrol in Mumbai today was Rs 76.15 per litre, 19 paise higher than what it was yesterday. The price of diesel in the city today was Rs 67.47, 9 paise more than what it was on Sunday.

In Delhi, the price of petrol on Monday was at Rs 70.53 per litre while diesel cost was at Rs 64.47 per litre. In Kolkata, the petrol price today was Rs 72.62 per litre while diesel price was Rs 66.23 per litre. In Chennai, the price of petrol today was Rs 73.19 per litre while diesel cost Rs 68.07 per litre.

This is the first steep hike in the prices of petrol and diesel, which have gone down by over Rs 10 per litre during the past two months across the country. In Mumbai, the price of petrol had crossed Rs 90 per litre two months ago.

Earlier this month, former chief economic adviser Arvind Subramanian said that the inclusion of petrol and diesel in the Goods and Services Tax (GST) ambit was not possible until the revenues under the new tax regime stabilises.

"You know it is desirable to have that (inclusion of petrol and diesel in GST). There is a good economic explanation or fiscal explanation for why it is not easy. Because if you put petroleum products under GST, naturally you will have a loss of revenues," Subramanian said.

 

(The above story first appeared on LatestLY on Dec 17, 2018 09:53 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).