The much-awaited Union Budget 2018 has hiked petrol price, and the diesel price has remained unchanged. As per the reports, there is no change in Petrol and diesel price has been made by the government of India. The petrol and diesel price has continued to rise with no relief. In Delhi, petrol price is Rs 73.10 per litre while diesel is Rs 64.11 per litre. Whereas the petrol price in Mumbai today is Rs 80.96 per litre which is 5 paise more than the yesterday price. And also the diesel price has remained unchanged in Mumbai which is Rs 68.27 per litre. Yesterday, on 1st February 2018, the Union Finance minister Arun Jaitley presented a budget of this year in the Parliament.
The Budget 2018 has mainly focused on the farmer’s production and poorer facilities. The budget has again brought the boom in the life of farmers and the unprivileged society just like the earlier year. Alongside this, the Finance Minister Arun Jaitley has also announced to cut down the excise duty on fuel by Rs 2. Also, the PM Modi government has decided to discontinue an additional excise duty on fuel by Rs 6. However, this made no difference in the rising petrol and diesel price as the government has proposed a levy on road and infrastructure cess of Rs 8 per litre in Budget 2018-19.
However, the diesel price has left unchanged and petrol prices have hiked by a marginal of 5 paise per litre in four metropolitan cities such as Delhi, Kolkata, Chennai and Mumbai. As per the reports, the prices of petrol and diesel are continuously rising for about two months under the dynamic pricing system that has started from June 2017. The Indian Oil Corporation said with Friday’s hike that the petrol price has increased up to Rs 3.07-3.29 per litre in four cities so far while diesel hiked up to Rs 4.47-5 per litre.