Fuel price across the country witnessed further reduction on Saturday, bringing citizens much-needed relief from skyrocketing fares. Notably, the petrol is being sold at Rs 81.99 per litre in Delhi and Rs 87.46 per litre in Mumbai. Diesel is being retailed at Rs 75.36 per litre and Rs 79.00 per litre in Delhi and Mumbai respectively.
The petrol prices were slashed by Rs 0.39 and Rs 0.38 in Delhi and Mumbai respectively. A reduction was also witnessed in diesel prices by Rs 0.12and Rs 0.13 respectively.
The news agency ANI quoted, “Petrol and diesel prices in #Delhi are Rs 81.99 per litre (decrease by Rs 0.39) and Rs 75.36 per litre (decrease by Rs 0.12), respectively. Petrol & diesel prices in #Mumbai are Rs 87.46 per litre (decrease by Rs 0.38) and Rs 79.00 per litre (decrease by Rs 0.13), respectively.”
In the two other metro cities, almost the same cut was seen. In Kolkata, the petrol price settled at Rs 83.83 per litre, a dip by Rs 0.38 and in Chennai, it was Rs 85.22 per litre, a cut of Rs 0.41. The price for diesel in Kolkata was Rs 77.21 per litre and in Chennai, it was Rs 79.69.
Importantly, the fuel prices have seen a continuous hike across the country from past few months. A slight decline in prices of fuel has brought some relief to the consumers.
On Friday, petrol recorded a drop of Rs 0.24 per litre in Delhi and Mumbai while, the diesel rate came down by Rs 0.10 and Rs 0.11 in both cities, respectively. Importantly, the reduction in fuel prices comes in the wake of Prime Minister Narendra Modi’s meeting with the top executives of global and Indian oil and gas companies on Monday.
On October 4, fuel prices were cut by a minimum Rs 2.50 on October 5 when the government’s only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction in local sales tax or VAT.
Delhi, which did not cut VAT on fuel, still has the cheapest fuel among all the metros and bulk of state capital as it levies lower taxes. On the other side, Mumbai despite reducing VAT on petrol still has the highest priced fuel.