Fuel price hike-Petrol crosses Rs 82-
mark in Delhi, at Rs 87.5 in Mumbai In Kolkata, petrol is now being retailed at Rs 83.87 per litre
Petrol and diesel prices were raised across the four metro cities on Monday.While the petrol prices have gone up by 21 paise, diesel prices have been increased by around 29 paise.In the national capital, petrol is priced at Rs 82.03 per litre, up from Rs 81.82 on Sunday.Similarly, petrol is now being retailed at Rs 87.5 in Mumbai, Rs 83.87 in Kolkata and Rs 85.26 in Chennai.Cost of diesel in the four metros of Delhi, Mumbai, Kolkata and Chennai is at Rs 73.82, Rs 77.37, Rs 75.67 and Rs 78.04 respectively. Price of fuel varies from day to day and region to region due to changing crude oil prices and application of local taxes.Fuel prices came down significantly on Friday after the Centre and several states announced a cut in taxes.On Thursday, Union Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre.
Additionally, the state-owned oil marketing companies have been mandated to reduce prices of petrol and diesel by Re 1 a litre.But, since then prices have once again continued to rise.The Congress on Sunday said yet another rise in fuel prices had exposed the Modi governments "hypocrisy" and that the recent token cut on excise duty was an "electoral lollipop" for the voters in five states facing assembly elections.
ARTICLE SOURCE- BS/ BUSINESS STANDARD