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Fuel price drop: Petrol costs Rs 82.62 per litre in Mumbai, Rs 77.10 per litre in Delhi

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The fuel rates in Delhi, Mumbai and other metro cities came down on Friday. Notably, petrol prices were slashed by Rs 0.18 in Delhi and Mumbai. A reduction was also witnessed in diesel prices by Rs 0.16 and Rs 0.17 respectively.

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Following the reduction, the petrol is being sold at Rs 77.10 per litre in Delhi and Rs 82.62 per litre in Mumbai. Diesel is being retailed at Rs 71.93 per litre and Rs 75.36 per litre in Delhi and Mumbai respectively.

The news agency ANI quoted, “Petrol and diesel prices in #Delhi today are Rs 77.10 per litre (decrease by Rs 0.18) and Rs 71.93 per litre (decrease by Rs 0.16), respectively. Petrol and diesel prices in #Mumbai are Rs 82.62 per litre (decrease by Rs 0.18) and Rs 75.36 (decrease by Rs 0.17), 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 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.

Also Read: Marginal cut in fuel prices bring relief to consumers; check out rates here

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