Mumbai, Feb 8: The price of petrol and diesel came down on Thursday, February 8, four days after rising continuously. The price of petrol was down by about 1 paisa while diesel cost about 8 paise lesser than Wednesday. In Mumbai, petrol price today was Rs 81.23 per litre, 1 paise less than what it was yesterday. The diesel price in Mumbai today was Rs 68.31 per litre, 8 paise lesser than yesterday’s price. Check the price of petrol and diesel in your city as on February 8, 2018, here. Also Read - High Petrol, Diesel Prices Burden on Consumers; Tax Cut Should be Joint Call of Centre, States: FM
In Delhi, the price of petrol today was Rs 73.37 per litre while the price of diesel in the national capital was Rs 64.15 per litre. In Kolkata and Chennai, petrol cost Rs 76.06 per litre and Rs 76.11 per litre respectively today. The cost of diesel in Kolkata and Chennai today was Rs 66.82 per litre and Rs 67.66 per litre respectively. Also Read - Petrol, Diesel Prices Unchanged Across Metros; Rs 97 in Mumbai, Rs 91 in Delhi
Petrol prices had been on the rise for two months now. There was a slight decline in prices on Saturday, February 3, which was negated by the rise in prices in the following days. Today again, the prices saw a slight decline, giving some relief to consumers. Also Read - Petrol, Diesel Price Today, February 27: Fuel Prices Burn Hole in Consumers' Pockets | Check Rates in Delhi, Mumbai, Kolkata, Chennai
There were speculations that Finance Minister Arun Jaitley may announce an excise duty decrease in Budget 2018, giving some relief from high fuel prices. However, there was no such relief from the Budget. 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.