New Delhi: The petrol price in Delhi was revised to Rs 81.99 per litre after a decrease of 39 paise, while that in Mumbai was Rs 87.46 per litre after a 38 paise reduction, as reported by ANI. This comes as a relief as fuel prices have been rising over the past two months.
Diesel, however, is being sold 12 paise lower at Rs 75.36 per litre in Delhi, while the price of diesel in Mumbai has been reduced by 13 paise to retail at Rs 79 per litre.
Delhiites yesterday saw a price cut of 24 paise per litre in petrol and 10 paise in diesel.
The fuel price has come down by 62 paise in two days.
The price cut follows international oil prices trading near the lowest level in a month on a bigger-than-expected gain in American stockpiles.
The rates were reduced by a minimum Rs 2.50 per litre across the country on October 5, when the government cut excise duty on petrol and diesel by Rs 1.50 a litre and asked oil PSUs to subsidise the fuels by another Re 1 a litre. The reduction in Bharatiya Janata Party (BJP)-ruled states was more as they matched this cut by an equivalent reduction in local sales tax or VAT. Prior to October 5 cut, petrol price had risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August.
After the Centre cut excise duty by Rs 1.50 per litre and asked PSU oil firms to subsidise fuel by Re 1, Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut.
They were later joined by Chhattisgarh, Jharkhand, Tripura, Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Haryana, Assam, Uttarakhand, Goa, Arunachal Pradesh and Bihar with similar moves. Jammu and Kashmir, which is under the governor’s rule, too reduced the tax on the two fuels.