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The price of diesel increased by 23 paise per litre in Mumbai on October 10, taking the price to Rs 77.93 per litre.
The price of petrol in the financial capital however remained unchanged at Rs 87.73 a litre, according to Indian Oil Corporation (IOC).
In Delhi too, petrol price remained unchanged at Rs 82.26 per litre. However, diesel price increased by 24 paise in the national capital, taking it to Rs 74.35 a litre.
Diesel prices in Chennai and Kolkata were hiked by 26 paise and 24 paise, respectively. The revised rate for diesel in was Rs 78.61 and Rs 76.20 a litre, respectively. The price of petrol remained unchanged at Rs 85.50 and Rs 84.09 per litre, respectively.
| City | Petrol price | Price change | Diesel price | Price change |
| (Rs/litre) | Rise/(fall) in | (Rs/litre) | Rise/(fall) in | |
| paise/litre | paise/litre | |||
| Bengaluru | 82.91 | 0 | 74.73 | 24 |
| Bhopal | 85.46 | 0 | 75.76 | 25 |
| Hyderabad | 87.21 | 0 | 80.87 | 26 |
| Lucknow | 79.68 | 0 | 72.36 | 24 |
| Port Blair | 70.78 | 0 | 69.54 | 22 |
Motor fuel prices have been rising across the country owing to higher global crude oil prices and a weaker Indian rupee.
To rein in motor fuel prices, the Centre had on October 4 announced an Rs 2.5 per litre cut in petrol and diesel prices. Of which, Rs 1.5 per litre is on account of reduction in excise duty and the balance would be absorbed by oil marketing companies.
Announcing the rate cut, finance minister Arun Jaitley appealed all the states to cut value added tax (VAT) on the two fuels.
While some states followed the suite and reduced VAT, other denied a tax cut.
Meanwhile, Moody's Investors Service said on October 9 that the excise duty cut on petrol and diesel is credit negative for India as it will reduce government revenue and increase fiscal deficit by 0.1 percent to 3.4 percent of Gross Domestic Product (GDP) in the year ending March 2019.
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