New Delhi :Petrol and Diesel prices rose for the 11th consecutive day today to wipe out all of the Rs 2.50 a litre cut in rates announced earlier by FM Arun Jaitely in this month through excise duty cut and oil company subsidy.
As the PM Modi led government had, with effect from Oct. 5 2018 decrease excise duty on petrol and diesel by Rs 2.50 a litre and asked for same to state-owned oil firms to subsidize the fuel, But the retail selling price, however, continued to go up on subsequent days.
Today Petrol prices in the national capital Delhi are Rs 82.83 per litre which is increased by Rs 0.11 and diesel prices are Rs 75.69 per litre which is increased by Rs 0.23. Petrol prices in the financial capital Mumbai are Rs 88.29 per litre are increased by Rs 0.11 and diesel prices are Rs 79.35 per litre increased by Rs 0.24. According to a price notification of state-owned fuel retailers today. With this increase in diesel prices, netizens saw hike by Rs 2.62 a litre in the last 11 days.Yesterday While petrol price remained static, diesel rates were increased by 8 paise a litre.
This is the fastest raise in fuel rates since oil firms implemented daily price revision in mid-June last year.