Published: Wed, May 30, 2018
Money | By Hannah Jacobs

Faux pas: Petrol, diesel prices cut by 1 paisa, not 60 paise

Faux pas: Petrol, diesel prices cut by 1 paisa, not 60 paise

Even as global crude oil prices are coming down, fuel prices in the country were going up, he claimed. "It's been five days now, but nobody has come to buy potatoes", said a concerned potato farmer. Currently, the cost of diesel per litre as on Wednesday is Rs 68.75 per litre in Delhi, Rs 73.20 per litre in Mumbai, Rs. 71.30 in Kolkata and Rs. 72.58 in Chennai.

While the price was increased almost Rs 4 per litre during May 14 to May 29 with an average increase of 15 to 30 paise daily, the reduction of 1 paisa invited severe wrath of people.

Fuel prices continue to touch another peak for the 16th consecutive day, with petrol being sold at Rs 78.43 per litre in Delhi and Rs 86.24 per litre in Mumbai.

The state government decision comes in the wake of fuel prices going up steadily in the last two weeks after Karnataka election. For tomorrow's rate, the average from May 16 to May 30 will be taken.

In all, petrol price was increased by ₹3.8 per litre and diesel by ₹3.38 in that fortnight.

Petroleum prices do not fall under the ambit of Goods and Services Tax (GST) and are one of the big sources of revenue for the state government.

The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel.

Delhi has the cheapest price among all metros and most state capitals.

Previously the farmers had to pay Rs 20 for bringing in a sack of potato, and due to an increase in fuel prices the charges have now increased to Rs 25.

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