Fuel on fire: Petrol 1 paisa short of Rs 80 in Delhi

Roman Schwartz
September 9, 2018

Nothing new, right? Well, the latest prices of non-branded petrol after the hike is Rs 79.99 per litre in Delhi and the same for diesel is Rs 72.07 per litre. It costs Rs 87.39 in Mumbai. While petrol costs ₹87.39 a litre, diesel is priced at ₹76.51 a litre, an increase of 48 paisa and 55 paisa respectively over Thursday's price. Prices of petrol and diesel which were continuously hiked for the last ten days till September 4, remained unchanged on Wednesday, September 5.

Petrol and diesel price were Friday hiked by about 50 paisa per litre each - the steepest increase in rates since daily price revision came into effect over 14 months back - to push rates to their highest ever. On September 5, Finance Minister Arun Jaitley, too, said that the worldwide oil prices remained volatile and have not shown any linear movement and hence, the government remains non-committal on cutting excise duty, reported the daily. Diesel cost Rs 75.61 per litre against Rs 75.39 on Wednesday.

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The Congress has made a decision to call a nationwide bandh on Monday, September 10 over the issue of rising fuel prices. In Bengaluru, petrol price is Rs 82.6 and diesel is Rs 74.39.

The surge in fuel prices is largely attributed to the rise in crude oil prices and high excise duty in the country. The present petrol and diesel prices in Bangalore are Rs 82.1 per litre and Rs 73.9 per litre while that in Chennai are Rs 82.6 per litre and Rs 75.6 per litre. Additionally, prices in Delhi are the cheapest among all metros mainly due to lower Value-Added Tax rates, and Mumbai has the highest Value-Added Tax on petrol at 39.12%.

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