No respite for common man as fuel prices rise again

Petrol Price

Mumbai, Oct 9 : Petrol and diesel prices in Mumbai are being sold at Rs 87.73 per litre (increase by Rs 0.23) and Rs 77.68 per litre (increase by Rs 0.31) respectively amid weakening rupee and high international crude oil prices.

Petrol and diesel prices in Delhi stand at Rs 82.26 per litre (increase by Rs 0.23) and Rs 74.11 (increase by Rs 0.29) respectively. In Chennai, Petrol Rs 85.50 per litre, up 29 paise; diesel Rs 78.35 per litre, up 26 paise
In Kolkata, Petrol Rs 84.09 per litre, up 32 paise; diesel Rs 75.96 per litre, 29 paise

The Modi government gave a temporary relief last week  by announcing Rs 2.5 cut on fuel, following which some states also cut VAT on fuel by Rs 2.5. But, oil marketing companies have not stopped increasing petrol and diesel prices ever since Finance Minister Arun Jaitley’s announcement.

The prices vary from region to region due to local taxes, as the product is excluded from the GST regime. Delhi has the lowest tax rate among the four metro cities.

The increase in transport fuel rates comes amid a continuous surge in crude oil prices. On Friday, the Brent crude was priced at over $84 per barrel.

On Thursday, Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre. Additionally, the state-owned oil marketing companies (OMCs) have been mandated to reduce prices of petrol and diesel by Re 1 a litre.

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