Fuel Price Hike: Centre’s excise cut negated as petrol, diesel rates continue to spiral up

14 October 2018, 08:21 AM
Fuel Price Hike: Centre’s excise cut negated as petrol, diesel rates continue to spiral upward (PTI Photo)
Fuel Price Hike: Centre’s excise cut negated as petrol, diesel rates continue to spiral upward (PTI Photo)

The prices of petrol and diesel continued their upward trend on Sunday as well and saw a marginal hike. In the national capital Delhi, the prices of petrol and diesel were Rs 82.72 per litre (increase by Rs 0.6) and Rs 75.38 (increase by Rs 0.19), respectively.

Meanwhile, the fuel prices in the financial capital Mumbai remained the highest in the country with an increase of Rs 0.6 (per litre) in the rates of petrol and Rs 0.20 (per litre) in the rates of diesel.

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The skyrocketing fuel prices over the last week has negated the marginal excise cut of Rs 2.50 per litre announced by the government on October 5. Despite no VAT cut, the prices of petrol were at cheapest among the all the metro cities and state capitals.

Earlier this week, 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.

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First Published: Sunday, October 14, 2018 07:06 AM
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