Petrol Price Returns To Rs 82 Mark in Delhi Two Days After Government Cut Excise on Fuel Rates

Team Latestly
Petrol prices dipped to its lowest at Rs 68.84 in the national capital, a cut by 42 paise on Monday, while diesel prices were cut by 46 paise per litre, selling at Rs 62.86. In Mumbai, petrol and diesel prices at Rs 74.47/litre and Rs 65.76/litre respectively.

New Delhi, October 8: Petrol and diesel prices were hiked yet again across the country. There was an increase of 21 paise in prices of petrol and 29 paise in rates of diesel. Following the hike, a litre of petrol costs Rs 82.03 in Delhi and Rs 87.50 in Mumbai. Diesel is being sold at Rs 73.82 and Rs 77.37 in the national and financial capital respectively. In Chennai, petrol is retailed at Rs 85.09 and diesel is sold at Rs 77.78.

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Petrol price was raised by 18 paise a litre on October 6 and 14 paise on Sunday. Petrol in Delhi costs Rs 81.82 on Sunday. Similarly, diesel rates were hiked by 29 paise a litre each on October 6 and Sunday. It was sold at Rs 73.53 per litre in Delhi, up from Rs 72.95 on October 5. Delhi, which did not cut VAT on fuel, still has the cheapest fuel in all metros and bulk of state capital as it levies lower taxes. Mumbai despite reducing VAT on petrol still has the highest priced fuel. Fuel Price Rise: Cut 'Electoral Lollipop', Says Congress After Another Hike in Petrol, Diesel Prices.

Petrol prices had hit an all-time high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel rates too had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. Amid mounting pressure, the Modi government reduced petrol and diesel prices by a minimum Rs 2.50 on October 5 when it's only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect.

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In BJP-ruled states, the reduction was higher as they matched the cut with a similar decrease in local sales tax or VAT. But the prices were on the rise from the very next day.