Petrol, Diesel prices rise again: Check cost in Delhi and Mumbai

New Delhi : Petrol and diesel prices rose again on Sunday, taking the new cost per litre to Rs 81.82 and Rs 75.53 for petrol and diesel respectively in the national capital. In Mumbai, petrol and diesel was priced at Rs 87.29 (increase by Rs 0.14) and Rs 77.06 (increase by Rs 0.31) per litre respectively.

On Thursday, the government had announced a cut of Rs 2.5 per litre cut in petrol and diesel prices, of which Rs 1.5 per litre is on account of reduction in excise duty and the remaining Rs 1 per litre would be absorbed by oil marketing companies. 

"Excise duty to be reduced by Rs 1.50 and Oil Marketing Companies (OMCs) will absorb 1 rupee. So, a total of Rs.2.50 will be reduced on both diesel and petrol," Finance Minister Arun Jaitley had said.

The Centre had also appealed to the state governments to cut VAT rates. BJP-ruled states like Gujarat, Maharashtra, Uttar Pradesh, Tripura, Assam, Jharkhand, Haryana, Himachal Pradesh and Madhya Pradesh followed suit. However, non-BJP ruled states like Kerala, Karnataka and West Bengal have refused to cut taxes.

The increase in transport fuel rates comes amid a continuous surge in crude oil prices. On Friday, the Brent crude was priced at over $84 per barrel.