MUMBAI/NEW DELHI: A day after unchanged rates, fuel prices once again witnessed a rise with petrol touching Rs 88.39/litre in Mumbai, up by Rs 0.13/litre, on Thursday.
In the national capital, petrol reached Rs 81.00/litre, up by Rs 0.13 litre.
Diesel prices too reached new heights with an increase by Rs 0.11/litre. In Delhi, diesel was being sold at Rs 73.08/litre, Mumbai Rs 77.58/litre.
Prices of non-branded petrol in metro-cities
Prices of non-branded diesel in metro-cities
(Source: Indian Oil) Prices may vary from outlet to outlet within a city
Daily change in fuel prices was an "economic policy decision" of the central government and the courts must remain away from it, the Delhi High Court said on Wednesday.
A bench of Chief Justice Rajendra Menon and Justice V K Rao made it clear it was not inclined to interfere with the government's decision, saying "there are larger economic issues" involved.
"It is an economic policy matter of the government. There are larger economic issues. The courts must remain away from it. Government may do it (fix a fair price). We cannot issue a mandamus (direction) to them to do it," the court said.
Meanwhile, lending major State Bank of India (SBI) said that the recent increase in petrol and diesel prices is likely to give state governments a windfall gain of around Rs 22,700 crore "over and above the budget estimates for current fiscal".