Petrol, diesel prices fall for the first time since October 5

Petrol, Diesel Prices Cut Today Before Dussehra Fuel Rates On October 18, 2018

The price of diesel in few cities such as Amravati, Aurangabad and Nandurbar is over Rs 80 a litre. In Mumbai, a litre of petrol costs Rs 88.08. A litre of diesel now costs Rs 75.58 as compared to Rs 75.69 previously. After a reduction of 21 paise the petrol price in the national capital settled at Rs 82.62 per litre. The price of diesel reduced from Rs 79.35 per litre to Rs 79.24 per litre. On Tuesday, petrol price in Delhi was Rs 82.41 per litre.

The prices of both petrol and diesel across the country witnessed another dip on Friday, in relief to consumers. A litre of petrol cost Rs 85.88 in Chennai on Thursday, a decline of 22 paise from Wednesday's price.

However, most of the Rs 2.50 per litre reduction in rates effected from October 5 has been lost in increases in selling prices on subsequent days. Value-Added Tax in Delhi is higher than neighbouring Uttar Pradesh and Haryana.

Fuel prices were cut on Thursday, a day ahead of Dussehra, despite a surge in global crude oil prices and a fall in the value of the rupee against the United States dollar. Jammu and Kashmir, which is under the governor's rule, too reduced the tax on the two fuel.


The BJP-government at the Centre had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October a year ago by Rs 2 a litre.

The BJP-government at the centre had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October previous year by Rs 2 a litre.

The Opposition has repeatedly blamed the Modi government for the steep hike in the fuel price, while the latter has maintained that global crude oil prices and other worldwide factors are responsible for the increase in prices of petroleum products.

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