Another surge in fuel prices: Check October 16 prices HERE
After remaining steady on Monday, the price of petrol again saw a marginal increase of Rs 0.11 in Delhi on Tuesday. Petrol was priced at Rs 82.83 per litre, while diesel traded at Rs 75.69 with an increase of Rs 0.23 from Monday’s prices. In Mumbai, prices of petrol and diesel were Rs 88.29 per litre (increase by Rs 0.11) and Rs 79.35 per litre (increase by Rs 0.24), respectively, according to the price notification by state-owned oil firms.
On Monday, the prices of petrol and diesel in Kolkata were Rs 84.54 and Rs 77.31, respectively. In Chennai, the prices were pegged at Rs 85.99 and Rs 79.80, respectively.
With the steady increase in the prices of fuel on a daily basis, the relief from the excise cut has already been negated in case of diesel. Fuel prices were cut by a minimum Rs 2.50 on October 5 when the government’s only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction in local sales tax or VAT.
Delhi, which did not cut VAT on fuel, still has the cheapest fuel among all the metros and bulk of state capital as it levies lower taxes. Mumbai despite reducing VAT on petrol still has the highest priced fuel.