New Delhi | Jagran Business Desk: State-owned fuel retailers on Wednesday hiked the Petrol prices by 26 paise per litre after 29 days of inactivity, pushing the rates to nearly the all-time high. Petrol is now available at Rs 83.97 per litre in Delhi, while diesel is priced at Rs 74.12 in the national capital, up by 25 paise a litre.

Diesel touched an all-time high of Rs 80.78 in Mumbai after the first price revision in nearly a month. The petrol prices in Delhi is just three paise less than the all-time high of Rs 84 recorded on October 4, 2018. On that day, the diesel had scaled to an all-time high of Rs 75.45.

In a bid to ease inflationary pressure and boost consumer confidence, the the government, on October 4, 2018, had cut excise duty on petrol and diesel by Rs 1.50 per litre. A senior government official has said that no tax cut is under consideration as of present.  

The Centre had increased the excise duty by Rs 13 per lite on petrol and Rs 15 per litre on diesel in two instalments in March 2020 and May 2020 respectively so as to garner additional revenue of Rs 1.6 lakh crore. Price notifications of oil companies have showed that the the petrol prices has risen by Rs 14.28 per litre and diesel by Rs 11.83 a lite since the month of May.

Petrol prices in Delhi: Rs 83.97 per litre

Diesel prices in Delhi: Rs 74.12 per litre

Diesel prices in Mumbai: Rs 80.78 per litre

(With PTI inputs)

Posted By: Lakshay Raja