Petrol, diesel price highest in Mumbai; other cities see similar trend
Finance Minister Arun Jaitley during FY19 Budget trimmed down excise duty on various products, especially fuel products, pinning down hopes that petrol and diesel prices would go down.
Fuel prices in India have continued to stay on 4-year high since the start of the year 2018.
On Friday, petrol prices in Mumbai was at Rs 81.23 per litre. Since February 4, petrol price here has remained over Rs 81-mark.
While petrol prices in New Delhi stood at Rs 73.35 per litre, Kolkata at Rs 76.04 per litre and Chennai at Rs 76.08 per litre.
If compared with previous day, petrol prices in New Delhi and Kolkata decreased by just 2 paisa per litre each, while in Mumbai and Chennai it was down by 1 paisa per litre and 3 paisa per litre respectively.
Such trend in petrol prices was last seen in the year 2014.
From January 1, 2018 till date, petrol prices in New Delhi have risen by Rs 3.34 per litre, in Kolkata by Rs 3.28 per litre, in Mumbai by Rs 3.30 per litre and in Chennai by Rs 3.51 per litre.
On the other hand, diesel prices are at an all-time high, as per data given by Indian Oil Corp.
Diesel prices on Friday in New Delhi stood at Rs 64.11 per litre, in Kolkata at Rs 66.78 per litre, Mumbai at Rs 68.27 per lire and Chennai at Rs 67.62 per litre.
If compared with previous day, diesel prices in the above mentioned four metro cities are brought down by 4 paisa per litre each.
Between January 1, 2018 till date, diesel prices are up by Rs 4.58 per litre in New Delhi, by Rs 4.59 per litre in Kolkata, by Rs 5.12 per litre in Mumbai and Rs 4.90 per litre in Chennai.
Higher diesel prices mean increased cost for transporters, farmers and all those dependent on diesel-generated power.
Price rise in fuel product continues, despite Finance Minister Arun Jaitley trimming down excise duty on various products, especially fuel products, during FY19 Budget, pinning down hopes that petrol and diesel prices would go down.
Jaitley said the government has lowered basic excise duty on petrol and diesel by Rs 2 per litre each to Rs 4.48 and Rs 6.33 per litre for unbranded ones. While excise duty on petrol and diesel prices also followed similar reduction to Rs 5.66 per litre and Rs 8.69 per litre respectively.
It may be noted that while providing Rs 2 per litre excise cut in fuel products, Jaitley also slapped a new Rs 8 per litre “Road and Infrastructure Cess” on motor spirit.