Fuel price hike: Petrol reaches Rs 82.25 in Delhi, Rs 89.63 in Mumbai

New Delhi : In a yet another hike in the fuel prices on Wednesday, the petrol reached Rs 82.25 per litre in the national capital and Rs 89.63 in Mumbai – an increase of 9 paise from Tuesday.

Meanwhile, diesel prices have also been hiked by 9 paise on Wednesday, taking per litre cost of the fuel to Rs 73.96 and Rs 78.51 in Delhi and Mumbai respectively.

With continuous increase in global prices, it is likely that petrol will soon breach Rs 90 per litre in the financial capital of the country.

Government on the other hand has been maintaining that they cannot reduce the taxes on the fuel as it will result in a revenue loss of Rs 25000 crores to Rs 30000 crores with a reduction of Rs 2 per litre on petrol and diesel.

However, few states, including have announced reduction in VAT imposed on fuel prices. Karnataka on Monday announced a cut of Rs 2 per litre on petrol and diesel prices. Earlier, Rajasthan, Andhra Pradesh and West Bengal announced a reduction of Rs 2.5, 2 and Re 1 on fuel prices respectively.