Petrol prices were hiked by 5 paise and diesel prices were raised by 18 paise per litre today according to daily fuel price list of state-owned oil firms. Petrol prices on Wednesday hit the highest level since the BJP government came to power in 2014. Petrol price rose to Rs 72.43 per litre in Delhi, highest since March 2014, while diesel price rose to Rs 63.38 per litre in Delhi. In Mumbai, prices have crossed Rs 80-mark – costliest in the country.
Diesel is being sold at Rs 67.50 in Mumbai, where the local sales tax or VAT rates are higher. The spurt in rates, caused by the rally in international oil prices, has led to the oil ministryasking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.