Karnataka government cuts fuel prices by Rs 2 per litre

The increase in the petrol price is by Rs 0.35/ per litre while diesel rose by Rs 0.24 per litre, data from the Indian Oil Corp's website showed.

Petrol prices have gone up by about 6% and diesel prices by 8% in the past one month. Karnataka's chief minister made the decision to cut down the petrol and diesel prices in an apparent reaction to the political pressure as Rajasthan, Andhra Pradesh and West Bengal governments have reduced fuel prices.

In what could be perceived as a sigh of relief for the common man, Karnataka Chief Minister HD Kumaraswamy, on Monday, announced that his government will be cutting the prices on petrol and diesel by Rs 2 per litre. This marks a hike of around 15 paise compared to Sunday's fuel prices.

In Mumbai, the petrol price is at Rs 89.01 per litre after it increased by Rs 0.34 per litre while the diesel price is at Rs 78.07 per litre which again increased by Rs 0.25 per litre.

Both petrol and diesel prices are at all-time highs.

A combination of a dip in rupee value against the United States dollar and rise in crude oil prices has led to a spike in pump prices since mid-August. The union government is facing continuous flak every day for not implementing stringent measures to curb prices.

Last week, the Congress and 21 other regional and national parties observed a "Bharat Bandh" on account of the consistent rise in fuel prices and urged the government to take necessary steps to reduce citizens' woes. The government, for its part, has blamed worldwide factors for the rising prices.