Petrol prices down by 19 paise in Delhi, diesel drops 11 paise

05 November, 2018, 05:32 | Author: Eric Barnett
  • Petrol prices witness dip again costs Rs 78.99 in Delhi

Petrol and diesel prices were cut for the fourteenth consecutive day on softening worldwide oil prices, providing some relief to consumers battered by two months of relentless rate hikes.

In the other two metros, Chennai and Kolkata, petrol was sold at Rs. 82.06 and Rs. 80.89 respectively and diesel was sold at Rs. 77.73 and Rs 75.39 respectively.

LIOC said that the price of Lanka Auto Diesel will be reduced by Rs 11 per litre while the price of 92 Octane Petrol has been reduced by Rs 2.

Meanwhile, in Mumbai, petrol and diesel are retailed at Rs 84.68 (decrease by 18 paise) and Rs 77.18 (decrease by 14 paise), respectively.

The downward slide in petrol and diesel prices continued on Saturday after the rates were cut by 19 and 11 paise a litre respectively in the national capital on softening worldwide oil prices. "Oil prices are beyond the control of the Indian Government". Earlier, fuel prices hit record high before coming down gradually.

However, the Delhi government had not reduced Value-Added Tax on petrol and diesel. On that day, the government chose to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise by another Re 1 a litre by reducing their margins. On Friday, the petrol was priced at Rs. 79.18 per litre in Delhi and Rs. 84.68 per litre in Mumbai. Due to that petrol and diesel are now cheaper in Noida compared to Delhi.



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