Mumbai: Petrol and diesel prices are on a rising spree, witnessing a fresh hike on Tuesday. In a bid to provide relief to consumers from rising fuel prices, Modi government had reduced the prices to an extent of Rs 2.50 earlier this month, out of which Rs 1.50 is the reduction in excise duty and Re 1 will be absorbed by the oil marketing companies.
Despite the government's efforts to bring fuel prices under control, the prices are increasing daily. Petrol and diesel prices are revised on daily basis taking into considerations the rate of crude oil in international market and the rate of rupee against the US dollar.
On Tuesday, petrol is being retailed in Delhi, with a hike of Rs 0.23 at Rs 82.26 per litre, and diesel is being retailed with a hike of Rs 0.29 at Rs 74.11 per litre. Petrol in Mumbai now costs Rs 87.73 per litre and diesel costs Rs 77.68 per litre after a hike of Rs 0.23 and Rs 0.31, respectively.