In Mumbai, the petrol prices saw an increase. Prices of petrol increased by 18 paise per litre while Diesel price in Mumbai slipped 70 paisa per litre. Petrol is at 87.15 per litre (increase by Rs 0.18) and Diesel at Rs 76.75 (decrease by Rs 0.70).
Fuel prices in Kolkata continue to rise. Price of petrol was increased by 17 paise and diesel by 29 paise.
Earlier, the Central government on Thursday announced a cut of Rs 2.5 in petrol and diesel prices across the country and has asked all state governments to follow the suit by deducting the same amount in its value-added tax (VAT) charges.
As many as 12 Bharatiya Janata Party (BJP)-ruled states including Uttar Pradesh, Gujarat, Chhattisgarh, MP and others implemented the same and have reduced the fuel prices by Rs 5 per litre. Even Maharashtra announced a massive Rs 3.2 cut in petrol prices.
While announcing the cut in fuel prices, finance minister Arun Jaitley said that the government will bear the burden of Rs 1.50 per litre, while Oil Marketing Companies (OMCs) will absorb another Re 1 in cost to bring a total benefit of Rs 2.5 to the consumers.
The hike is not limited to petrol and diesel as even petroleum products including liquefied petroleum gas (LPG) prices have been increased. LPG prices were hiked by Rs. 2.89 per cylinder to Rs. 502.4 per cylinder and the non-subsidised LPG costs at Delhi were increase by Rs. 59.00 per cylinder for October 2018.