Petrol and diesel expensive by 75 paise and 50 paise respectively

Petrol and diesel prices in India have been hiked and the amendments to the prices have come into effect from January 4, 2014. Petrol will cost Rs 79.52 per litre and diesel, Rs 61.42 in Mumbai.

The price hike is due to the Government’s decision to increase the commission that is paid to petrol pumps. As a result, petrol will be costlier by 75 paise per litre and diesel by 50 paise, exclusive of state, local and other taxes. Before this price hike, petrol and diesel cost Rs 78.56 and Rs 60.80, respectively, for a litre each.

Though fuel pump dealers might have the Government’s decision in their favour and received a boost in their commission, it is the common man who always has been facing the brunt of such price hikes. The government had recently increased the prices for the benefit of the same fuel station owners.