Fuel prices took a leap again on Saturday after remaining unchanged for 3 days. Fuel rates increased by 15-24 paise taking the Petrol price in Delhi to Rs 91.17/l & in Mumbai to Rs 97.57/l. While Diesel price in Delhi stood at Rs 81.47/l, in Mumbai it stood at Rs 88.60/l.
Across the country as well the petrol and diesel prices increased between 20-30 paise per litre depending on the level of local duty at the state level.
Petrol and diesel prices have been rising continuously since February 9. The prices have gone up by Rs 4.22 per litre for petrol and Rs 4.34 a litre for diesel in Delhi.
A few days back, petrol prices even crossed Rs 100 per litre mark in several cities of Rajasthan, Madhya Pradesh and Maharashtra.
However, to reduce the burden on consumers, Nagaland became the fifth state to cut taxes after the recent surge of fuel prices that have pushed prices to new highs. On Wednesday, the northeast state joined four other states, namely West Bengal, Rajasthan, Assam, and Meghalaya, to have reduced state-related taxes on fuel.
The Nagaland state government said the tax rate for diesel has been reduced from Rs 11.08 to Rs 10.51 per litre. While the tax on petrol and other automotive spirits has been reduced from Rs 18.26 to Rs 16.04 per litre. With this change, the retail price of petrol and diesel in Nagaland came down to Rs 90.41 and Rs 83.99 per litre each.
Oil companies executives said that petrol and diesel prices may increase further in the coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making a loss on the sale of auto fuels.