Petrol prices on Monday went up again hitting the highest level across the cities ever since the BJP government came to power in 2014. In Mumbai, the petrol price was at Rs 81.17 per litre while diesel was at Rs 68.30 per litre.
The petrol price were hiked by 15 paise and diesel prices were hiked by 7 paise per litre, applicable from 6:00 a.m. on 5th February 2018.
However, there was no relief even after Jaitley during the Union budget 2018 announced that the wthere will be an excise duty cut on petrol and diesle prices.
In his Budget proposals for 2018-19, Jaitley lowered basic excise duty on petrol and diesel by Rs 2 per litre each to Rs 4.48 and Rs 6.33 a litre, respectively.
He also abolished Rs 6 per litre additional duty of excise on both the transport fuel. But to make up for the two, he slapped a new Rs 8 per litre 'Levy of Road and Infrastructure Cess' on both petrol and diesel, thereby keeping the total incidence at the same level.
On Saturday, petrol price went down by 1 paise while diesel price also fell slightly after a month of continuous increase. However, the prices of fuel were back on the rise on Sunday.