Fuel prices continues to rise, just within a day of cut in the excise duty by the Centre. On Sunday, the petrol rised by 14 paise and the diesel price was rised by 29 paise.
Petrol and diesel prices were cut by a minimum of Rs.2.50 on October 5 and the Finance minister directed the state government to match the reduction.
But, the petrol price were on rise from the very next day. The petrol which costs Rs. 81.50 on October 5, costs Rs.81.82 on Sunday at the national capital.
In Maharashtra, the petrol is sold at Rs. 87.29 and the diesel is sold at Rs. 77.06.
After the fuel price cut by Rs.2.50, the Centre said it would reduce the excise duty by Rs.1.50 per litre while the oil marketing companies would absorb the rest Re.1 per litre. Petrol prices had hit an all time high