Diesel Price Hiked Again; Wipes Out Rs 2.5-Per-Litre Cut

Fuel prices continue to rise petrol now costs Rs 88.18 per litre in Mumbai

Except in Mumbai and Pune, diesel prices across other major cities have gone up by over Rs 2.75 per litre, while petrol prices have risen by almost Rs 2 per litre since October 5.

Tell us, what are you doing to save when it comes to petrol price increases?

Government figures show the average cost of a litre of petrol rose by 0.7p in the past week to £1.31 at United Kingdom forecourts despite wholesale costs falling.

The AA says the country can not continue to be hammered by large fuel price hikes without severe economic knock-on effects. While the diesel prices were marked at Rs 75.69 per litre in Delhi and Rs 79.35 per litre in Mumbai.

Petrol on October 4 was priced at ₹84.

After the Centre cut excise duty by Rs 1.50 and asked the PSU oil firms to subsidise fuel by ₹1, Maharashtra and Gujarat were among the first to announce a matching ₹2.50 cut.

On Monday, the petrol was sold at Rs 82.

Haryana and Uttar Pradesh, which border the national capital, have reduced Value-Added Tax, the association said.

"Whenever there are elections, Prime Minister Narendra Modi starts expressing his concerns over rising prices of petrol and diesel". Jammu and Kashmir, which is under Governor's rule, too reduced tax on the two fuel.

The reduction in excise duty, only the second in four years of BJP-led NDA rule, will dent Central government revenues by Rs 10,500 crore and was aimed at cooling retail prices that had shot up to an all-time high.

"We urge the big four supermarkets who are responsible for selling the largest quantities of fuel in the United Kingdom to cut their petrol prices now by at least 3p per litre to ease the burden on motorists and reflect the cost savings they are making". Several states followed suit and announced an additional cut of Rs 2.50 per litre.

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