Today's fuel price: Petrol up by 11 paise, diesel by 23 paise in Delhi

New Delhi, Oct 16: The petrol price in Delhi was hiked by 11 paise after which it stood at Rs 82.83 per litre on Tuesday (October 16). The price of diesel in Delhi today is Rs 75.69 after 23 paise increase over yesterday.

In Mumbai, the price of petrol today (October 16) is Rs 88.29 per litre while that of diesel is Rs 79.35 per litre.

In Chennai, the petrol price is Rs 86.10 per litre while that of diesel is Rs 80.04 per litre.

Yesterday (October 15), the price of petrol was not hiked but diesel price was increased by 8 paise in Delhi.

Today is 11th consecutive day that the diesel price rose and it effectively wipes out all of the Rs 2.50 per litre cut in rates announced earlier this month through excise duty cut and oil company subsidy.

The fuel prices vary from region to region due to local taxes, as the product is excluded from the Goods and Services Tax regime. Delhi has the lowest tax rate among the four metro cities.

"We have no option but to bear the high fuel prices. Appeal to the Delhi government to decrease tax on fuel prices," ANI quoted a Delhi resident as saying.

In the wake of sharp rise of fuel prices in recent times, Prime Minister Narendra Modi on Monday held a meeting with the chiefs of national and international oil and gas companies. During the meeting, the Prime Minister emphasised on the economic challenges associated with the rising crude oil prices and sought cooperation of oil producing countries to deal with it.