Rs 5 Per Litre Relief in Petrol And Diesel Prices is Same as The Amount by Which Fuel Rates Rose in Just One Month
Rs 5 per litre is the amount by which the prices of petrol and diesel have risen in just the past one month across the country.
Mumbai, October 4: Petrol price in Mumbai tomorrow would be Rs 5 per litre down at Rs 88.34 per litre after the Central, as well as State governments, announced a relief of Rs 2.50 per litre each. Finance Minister Arun Jaitley on Thursday announced that Centre has cut excise duty on fuel by Rs 1.50 per litre and the Oil Marketing Companies would also further cut Re 1 per litre. Following this, several BJP ruled states announced a further cut of Rs 2.50 per litre, giving the consumer a total relief of Rs 5 per litre.
However, Rs 5 per litre is the amount by which the prices of petrol and diesel have risen in just the past one month. This effectively means that what petrol and diesel would cost on Friday, October 5, is same as they were priced a month ago around September 2 and 3. In Mumbai, that effect would be seen only on petrol since the Devendra Fadnavis government in Maharashtra has cut VAT only on petrol and not diesel. In fact, on September 10, the day when the Opposition had called for a Bharat Bandh against rising fuel prices, the price of petrol in Mumbai was Rs 88.12 per litre. Fuel Prices Cut: List of States Where Petrol And Diesel Will Cost Rs 5 Per Litre Lesser.
Price of Petrol in Mumbai a Month Ago
Meanwhile, in states where state governments have not cut VAT, the prices would be somewhere around what they were about 15-20 days ago. For example, in national capital Delhi, petrol would cost Rs 81.50 per litre, which is close to what it was on September 15.
Finance Minister Arun Jaitley on Thursday while announcing a cut in fuel prices said that the excise duty reduction this time will cost the exchequer Rs 10,500 crore per litre. The decision came at a time when petrol prices had gone above Rs 91 in Mumbai and diesel cost had touched Rs 80 per litre in several parts of Maharashtra.
(The above story first appeared on LatestLY on Oct 04, 2018 05:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).