Nirmala Sitharaman raised taxes on the fuels on Friday to part-fund her Budget for 2019-20, petrol and diesel prices were expected to increase by over Rs 2.5 and Rs 2.3 per litre respectively.Nirmala raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre each to raise over Rs 28,000 crore.
After the government announced a cess hike on fuel prices in the Union Budget 2019, petrol prices shot up by Rs 2.5/litre and diesel prices have shot up by Rs 2.30/litre.
In Delhi- petrol cost 70.51 per litre on Friday , was up by Rs 2.45 at Rs 72.96 per litre on Saturday.
Diesel Rs 64.33 a litre, has been hiked by Rs 2.36 to Rs 66.69 per litre.
In Mumbai- petrol cost Rs 76.15 per litre on Friday, was up by Rs 2.42 at Rs 78.57 per litre on saturday.
Diesal Rs 67.40 a litre, has been hiked by Rs 2.5 to Rs 69.90 per litre.
In Kolkata- petrol cost Rs 72.75 per litre on Friday,was up by Rs 2.4 at Rs 75.15 per litre on Saturday.
Diesal Rs 66.23 a litre , has been hiked by Rs 2.36 to Rs 68.59 per litre.
In Chennai- petrol cost Rs 72.75 per litre on friday ,was up by Rs 2.57 at Rs 75.15 per litre on saturday.
Diesal Rs 67.96 a litre on ,has been hiked by Rs 2.52 to Rs 70.48 per litre.
Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Indian Oil Corporation shares were down after imposition of special additional excise duty on petrol and diesel.