Huge relief! After excise cut, petrol costs Rs 86.97 a litre in Mumbai, Rs 81.50 in Delhi

3. Beware of the start-stop scam. A common method pumps use to scam motorists is filling up a lower amount ‘by mistake’. For example, say you have asked for fuel worth Rs 1,500. The attendant fills up only Rs 500 worth and after being pointed out his mistake goes ahead and pretends to reset the machine and fills up to Rs 1,000. All the while, you could be under the impression that you received Rs 1,500 worth of fuel. (Representative image)

The Centre's decision to cut excise duty on petrol and diesel has brought in some relief to consumers battling rising fuel prices since August. On Friday, petrol prices fell Rs 4.37 per litre to Rs 86.97 in Mumbai. Diesel prices in the city too fell Rs 2.65 a litre to Rs 77.45, according to a price listing on Indian Oil Corporation (IOC) .

In Delhi, petrol prices dropped Rs 2.50 per litre to Rs 81.50. A litre of diesel in the national capital now retails at Rs 74.75, down Rs 1.80. Petrol and diesel dropped Rs 2.62 and Rs 2.67 in Chennai to Rs 84.71 and Rs 77.12 per litre, respectively.

In Kolkata, the price of petrol now stands at Rs 85.80 per litre, down Rs 2.45, while diesel dropped Rs 2.50 to Rs 77.30 per litre.

Finance Minister Arun Jaitley said on October 4 the Centre will bear the burden of Rs 1.50 per litre, while oil marketing companies (OMCs) will absorb another Re 1 in cost, bringing the total benefit to consumers to Rs 2.50. He also said that the Centre has requested the states to carry out a similar cut on the local taxes on fuel.

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Also read: Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse

Before the price cuts, the petrol price has risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August, which was the highest in any six-week duration after the daily price revision was introduced in mid-June last year.