Petrol prices fell about 8-12 paise, while diesel remained unchanged for the seventh straight session across the major cities — Mumbai, New Delhi, Kolkata and Chennai — on Thursday. Petrol stood at Rs 78.96 a litre, while diesel was at Rs 69.43 per litre in Mumbai.
According to the Indian Oil Corporation data, petrol costs Rs 73.35 per litre and diesel Rs 66.24 a litre in New Delhi. In Kolkata and Chennai, the petrol price stood at Rs 75.77 per litre and Rs 76.18 per litre while diesel was at Rs 68.31 per litre and Rs 69.96 a litre, respectively.
Prices of both petrol and diesel rose after the government, in the Union Budget, 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