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Fuel prices hikes by over Rs 2 after cess hike in Budget

Petrol and diesel prices rose by at least Rs 2.4 and Rs 2.36 a litre respectively across metro cities on Saturday.A litre of petrol that cost Rs 70.51 in Delhi on Friday, was up by Rs 2.45 at Rs 72.96 per litre on Saturday. Diesel in Delhi, which was previously priced at Rs 64.33 a litre, has been hiked by Rs 2.36 to Rs 66.69 per litre.

In Mumbai, a litre of petrol now costs Rs 78.57, up by Rs 2.42 from the previous Rs 76.15 per litre. Diesel price has seen an increase of Rs 2.5, up at Rs 69.90 per litre from the previous price of Rs 67.40 per litre.

Meanwhile, petrol and diesel prices in Kolkata were up Rs 2.4 and Rs 2.36 a litre respectively. Petrol which cost Rs 72.75 a litre till Friday, now costs Rs 75.15 per litre, while diesel price stood at Rs 68.59 per litre, up from Rs 66.23 per litre.

The biggest hike in fuel prices has been for Chennai, where petrol price shot up by Rs 2.57 at Rs 75.15 per litre from the previous price of Rs 72.75 per litre. Diesel price in Chennai also shot up by Rs 2.52 at Rs 70.48 per litre from the previous price of Rs 67.96 per litre.

After Finance Minister Nirmala Sitharaman raised taxes on the fuels on Friday to part-fund her Budget for 2019-20, petrol and diesel prices were expected to increase by over Rs 2.5 and Rs 2.3 per litre respectively.

Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre each to raise over Rs 28,000 crore.

On Friday, a litre of petrol cost Rs 70.51 in Delhi and Rs 76.15 in Mumbai. Diesel was priced at Rs 64.33 a litre in Delhi and Rs 67.40 per litre in Mumbai.

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