Fuel prices regain upward trend after a relief of Rs 2.50 from Centre

Mumbai: Petrol and diesel prices on Sunday has witnessed a fresh hike. Fuel prices are revised by oil marketing companies on daily basis. Finance Minister Arun Jaitley on Saturday assured the markets that the government would not go back to regulating fuel prices.

Petrol is now retailed at Rs 81.82 per litre in Delhi, Rs 87.29 per litre in Mumbai, Rs 83.66 in Kolkata and Rs 85.04 in Chennai. The rate of petrol has been hiked by Rs 0.14 in the four metros.

Diesel is retailed at Rs 73.53 per litre in Delhi, Rs 75.38 per litre in Kolkata, Rs 77.06 per litre in Mumbai and Rs 77.73 in Chennai. The rate of diesel has been hiked by Rs 0.29 in Delhi and Kolkata, and by Rs 0.31 in Mumbai and Chennai.

Petrol rate is the highest in Mumbai and diesel rate is the highest in Chennai. Petrol and diesel prices on Saturday were also hiked by 20 paise and 30 paise, respectively. However, the diesel rate in Mumbai was increased by only 7 paise on Saturday.

The government had on Thursday reduced the fuel prices by Rs 2.50 per litre, out of which the Centre has slashed Rs 1.50 in excise duty and the remaining Re 1 will be absorbed by the oil marketing companies.