Amid spiralling fuel prices owing to depreciating rupee and rising crude oil rates across India, Karnataka Chief Minister HD Kumaraswamy on Monday decided to reduce Rs 2 on both petrol and diesel prices in the state.
Interacting to reporters in Karnataka's Kalaburagi, Kumaraswamy said, "Today, we are taking a decision that we are going to reduce Rs 2 on both petrol and diesel".
Earlier, several other states like Rajasthan, Andhra Pradesh and West Bengal have announced a reduction in the prices of petrol and diesel in a big relief to the common people.
Talking about the metros, a litre of petrol is being sold for Rs 82.06 in Delhi, while diesel costs Rs 73.78 per litre on Monday.
In Mumbai, petrol price has increased by 15 paise a litre and diesel by 07 paise per litre on Sunday. The latest hike pushed the petrol price in Mumbai to a record high of Rs 89.44 per litre with Diesel rate touching its highest level of Rs 78.33 a litre.
The revised rates have been made effective from 6 am on September 17, 2018.
Fuel prices have been surging since August 16, up almost every day owing to a drop in rupee value and rise in crude oil rates. These small daily revisions have added up to a big hike in nearly a month. Almost half of the retail selling price of the two fuels is made up of central and state taxes.