Mumbai, Feb 2: Petrol price on Friday, February 2, a day after Union Budget 2018 was presented, continued to rise, with no relief in sight yet. The price of petrol in Mumbai today was Rs 80.96 per litre, 5 paise more than what it was yesterday. The price of diesel, meanwhile, remained unchanged today at Rs 68.27 per litre in Mumbai. In Delhi, petrol price was at Rs 73.10 per litre today while diesel was at Rs 64.11 per litre. Check the price of petrol and diesel in your city as on February 2 here. Also Read - Diwali Bonanza: Petrol, Diesel Prices May Bring Relief to Customers in November
On Thursday, Finance Minister Arun Jaitley announced a cut in excise duty on fuel by Rs 2. The Narendra Modi government also decided to do away with an additional excise duty on fuel by Rs 6. However, that made no difference to the rising petrol and diesel prices as this Rs 8 amount was converted to “road cess” on fuel, thereby, making no change in the price of petrol and diesel for the consumer effectively. Also Read - Petrol, Diesel Prices Unchanged Since a Month; Sales Exceed Pre-Covid Levels
Even as many were hopeful of a cut in excise duty bringing some relief from rising fuel prices, there were also demands to bring petrol and diesel under the purview of Goods and Services Tax (GST). However, no such relief came from Budget 2018-19. Also Read - Big Relief! Petrol, Diesel Prices May go Down Ahead of Diwali
The prices of petrol and diesel have been on the rise for about two months now, under the dynamic pricing system that came into effect in June 2017. While the price of diesel is at an all-time high, the price of petrol is highest since the Modi government came to power in 2014.