New Delhi: Less than a fortnight after the Centre forced a reduction in fuel prices by ₹ 2.5 per litre, diesel prices in Delhi have once again jumped to a fresh high to reverse the decrease. Diesel is now being sold at ₹ 75.69 a litre, beating its earlier high of ₹ 75.45.
On October 4, finance minister Arun Jaitley had announced a ₹ 1.5 cut in excise duty on both petrol and diesel and asked state-run fuel retailers to bear a loss of Re 1 on the fuel. This was followed by another round of ₹ 2.5 reduction in sales tax or VAT by several states.
Even in Mumbai, diesel prices are rising constantly and are already close to their earlier high of ₹ 80.10. A litre of diesel costs ₹ 79.35 in Mumbai, ₹ 80.04 in Chennai and ₹ 77.54 in Kolkata.
The pace of hike in petrol prices has, however, been slower. In Delhi, a litre of petrol costs ₹ 82.83, in Mumbai ₹ 88.29, Chennai ₹ 86.10 and Kolkata ₹ 84.65.
The hikes in petrol and diesel prices were for the 11th consecutive day today.
Since both the Uttar Pradesh and Haryana governments have reduced VAT on fuel, pressure is now on the neighbouring Delhi government to announce a tax cut. Petrol and diesel are cheaper in neighbouring Gurgaon or Gurugram (by about ₹ 1.40) and Noida (by about ₹ 2.5).
Also read: The cheapest and most expensive places to buy petrol, diesel in India