Maharashtra govt to cut diesel prices by Rs 1.56 per litre

08 October, 2018, 08:38 | Author: Brooke Harris
  • Assam Govt slashes prices on petrol and diesel; reduces VAT in state

Petrol and Diesel price has tightened the pockets of the consumers due to the daily price hike.

In the national capital, petrol is priced at Rs 82.03 per litre, while diesel rates have now escalated to Rs 73.82 following the revision. He added that a total of Rs 2.50 will be reduced from current petrol and diesel cost. "Kindly bring petrol and diesel under the purview of GST", he tweeted in Hindi.

In Mumbai, petrol was selling at Rs. 87.15 per litre, up by 18 paise on Saturday.

Mr. Gandhi has been been attacking the government over high petrol and diesel prices and the falling value of rupee.

The Maharashtra government on Friday announced a relief of Rs1.56/litre on diesel prices.

Even as the Centre announced a cut in excise duty on Thursday to bring down the fuel price, petrol and diesel prices continued the upward trend for another day on Monday.

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The announcement by states came after the Centre chose to reduce petrol and diesel prices by Rs 2.50 per litre on Thursday.

They were later joined by Chhattisgarh, Jharkhand, Tripura, Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Haryana Assam, Uttarakhand, Goa and Arunachal Pradesh with similar moves.

The BJP government has increased central excise duty 12 times in the last four and a half years.

Industry sources said for state-owned fuel retailers absorbing Re 1 per litre price would mean a Rs 9,000 crore hit on profits on an annualised basis. Revenue from petroleum products went up from Rs 88,000 crore in 2013-14 to Rs 1.86 lakh crore in 2015-16 - a massive 69 per cent jump.

Fadnavis lauded Prime Minister Narendra Modi and Finance Minister Arun Jaitley for the Centre's decision to reduce petrol and diesel prices.

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