The retail prices of petrol and diesel fell between Rs 5-10 per litre in line with the Centre's announcement to cut excise duty on the two petroleum products to contain surging rates.
The decision was announced hours after the Centre cut excise duty on petrol and diesel on Wednesday, and the new price came into effect from midnight, the CMO said in a statement issued late at night.
Experts said the increase in consumption and tax buoyancy will help offset excise duty cuts on fuels to an extent
Excise duty on petrol and diesel to be reduced by Rs 5 and Rs 10 respectively from tomorrow
In Delhi, with an increase of Rs 0.35 in petrol and diesel prices, their cost rose to Rs 110.04 per litre and Rs 98.42 per litre respectively today.
As per official data, Petrol prices in Delhi stand at Rs 109.69 per litre (up by Rs 0.35) and diesel prices are Rs 98.42 per litre (up by Rs 0.35) today.
As for Kolkata, the price of petrol is Rs 109.02 per litre, while diesel is Rs 100.49 per litre. In Chennai, petrol and diesel cost Rs 105.43 and Rs 101.59 per litre respectively.
Border districts of Madhya Pradesh are bearing the brunt of the hike in fuel prices, with the cost of petrol in Anuppur crossing Rs 120 per litre and diesel nearing Rs 110 per litre on Wednesday. Similarly, the price of petrol in Balaghat, which shares borders with Chhattisgarh and Maharashtra, reached Rs 119.23 per litre. Talking to PTI, Abhishek Jaiswal, a petrol pump owner in Anuppur's Bijuri town bordering Chhattisgarh, said the price of petrol has gone up to Rs 120.4 per litre after an increase of 36 paise on Tuesday. The cost of diesel reached Rs 109.17 per litre, following an increase of 37 paise, he said. Petroleum is brought to Anuppur from Jabalpur oil depot, about 250 km from the district headquarter, hence, fuel is costlier in the district than in other parts of the state due to higher transportation cost, Jaiswal said. The price of petrol and diesel in Balaghat reached Rs 119.23 and Rs 108.20 per litre respectively, after an increase of 37 paise, said Ravi Vaidya, the
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