Fuel price hike: Petrol nears Rs 90-mark in Mumbai; costs Rs 83.83 in Delhi

1. Fuel price hike-Petrol nears Rs 90-mark in Mumbai,costs Rs 83.83 in Delhi In a bid to ease the crunch caused by soaring fuel prices, Finance Minister Arun Jaitley had announced a reduction of Rs 2.50 per litre on both petrol and diesel prices earlier this month Citizens are yet to receive any respite from skyrocketingfuel prices, as the retail rates of petrol and diesel have once again witnessed a hike on Tuesday.In Delhi, petrol prices were hiked by 11 paise to be sold at Rs 83.83 per litre and diesel rates escalated to Rs 75.69 per litre after a hike of 23 paise.Petrol prices in Mumbai are inching closer to the Rs 90 per litre mark as petrol is retailing 11 paise higher at Rs. 88.29 per litre.The price of diesel, on the other hand, has been revised by 24 paise to retail at Rs 79.35.

2. With a similar hike in Kolkata, petrol is being sold at Rs 84.65 per litre and diesel is priced at Rs 77.54 per litre. While the Opposition has repeatedly blamed the Centre for the steep hike in the fuel price, the latter has maintained that global crude oil prices and other international factors are responsible for the increase in prices of petroleum products.In a bid to ease the crunch caused by soaring fuel prices, Finance Minister Arun Jaitley had announced a reduction of Rs 2.50 per litre on both petrol and diesel prices earlier this month after curbing excise duty on the commodity by Rs 1.50 per litre. He had also directed all state governments to slash rates.While the revision in prices was implemented in Gujarat, Chhattisgarh, Bihar, Uttar Pradesh, Tripura, Jammu and Kashmir, Himachal Pradesh, Meghalaya, Assam, Jharkhand and Goa, a number of states are yet to implement the decision. Read our full coverage on Fuel prices here ↔ BS / BUSINESS STANDARD