Petrol and diesel prices declined on Tuesday by about 5 paise and 11 paise respectively in major cities. Petrol stood at Rs 78.52 a litre, while diesel was at Rs 69.69 per litre in Mumbai.
According to the Indian Oil Corporation data, petrol costs Rs 72.90 per litre and diesel Rs 66.49 a litre in New Delhi. In Kolkata and Chennai, the petrol price stood at Rs 75.12 per litre and Rs 75.70 per litre while diesel was at Rs 68.48 per litre and Rs 70.23 a litre, respectively.
Prices of both petrol and diesel rose on Saturday after the government in the Union Budget on Friday announced that it will levy additional excise duty of Rs 2 per litre.
Of the Rs 2 hike, the road infra cess of Re 1 will go to the road ministry for infrastructure while the special duty of Re 1 will go to the revenue department. Read More
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