The prices of petrol and diesel continued to spiral on Saturday, negating the marginal excise cut of Rs 2.50 per litre announced by the government on October 5. In national capital Delhi, the prices of petrol and diesel stood at Rs 82.66 per litre, an increase by Rs 0.18 and Rs 75.19, with a hike of Rs 0.29, respectively.
The skyrocketing fuel prices continued to burn a hole in people's pocket in the financial capital Mumbai as well. On Saturday, the prices of two key fuel products – petrol and diesel – increased by Rs 0.18 and Rs 0.31, respectively. In Mumbai, petrol was being sold at Rs 88.12 per litre, the highest in the country. The price of diesel in the city stood at Rs 78.82 per litre.
Despite no VAT cut, the prices of petrol were at cheapest among the all the metro cities and state capitals. On the other hand, the prices of the two fuel products remained highest in Mumbai even after reducing VAT.
On Thursday, a finance ministry spokesperson had said that the central government had asked the state-run oil units to subsidise petrol and diesel prices by Re 1 per litre. The official, however, added that it was a “one-time thing” and the government will not ask them to do it again.