Petrol and diesel prices continued to move upwards today after a brief breather to consumers. Fuel rates saw a marginal increase after excise duty cut by Centre, VAT reduction by BJP-ruled states and Re 1 price cut by oil marketing companies coming into effect.
Petrol, diesel prices on the rise again; here’s how much fuel costs in your city
Petrol prices in Delhi went up by 18 paise today to end up at Rs 81.68 per litre and diesel prices rose to Rs 73.24 per litre after an increase of 29 paise. In Mumbai, petrol prices were hiked by 18 paise to Rs 87.15. Diesel prices in the city however saw an effective decline of 70 paise, falling to Rs 76.75 per litre. This happened due to the Rs 1.56 relief on diesel prices announced by the state government on Friday.
In Kolkata, petrol prices rose to Rs 83.52, whereas diesel prices were at Rs 75.09. In Chennai, petrol and diesel prices climbed to Rs 84.89 and Rs 77.42 respectively. Petrol prices in Bengaluru were at Rs 82.32, whereas rates for diesel were at Rs 73.61. Petrol and diesel rates in Hyderabad were at Rs 86.59 and Rs 79.67 respectively. In Lucknow, every litre of petrol costs Rs 79.12, whereas the same amount of diesel is selling for Rs 71.28.
Earlier this week on Thursday, Finance Minister Arun Jaitley announced that the Centre will cut excise duty on petrol and diesel by Rs 1.5 and OMCs will absorb Re 1 on the prices. Several states, including Gujarat, Assam, Uttar Pradesh, Chattisgarh, Jammu and Kashmir, and other slashed prices by as much as Rs 2.5 on the same day, expanding the effective relief to customers to Rs 5.
The Bihar government lowered the value added tax (VAT) on petrol and diesel on Friday which made these fuels cheaper by Rs 2.52 and Rs 2.55 a litre, respectively. According to an official release, VAT on petrol in state has been reduced from 26 per cent to 22.20 per cent, whereas it will be 15 per cent on diesel as against the earlier rate of 19 per cent.
Meanwhile, the Maharashtra government slashed the diesel prices by Rs 1.56 per litre, taking the effective relief on the transportation fuel to Rs 4.06. The Maharashtra government had Thursday reduced the prices of petrol by Rs 2.50 per litre.