Petrol prices below Rs. 77 in Delhi after 13th consecutive reduction

Petrol prices below Rs. 77 in Delhi after 13th consecutive reduction

New Delhi: The petrol prices in Delhi were recorded below Rs. 77 per litre followed by the reduction in fuel prices on the 13th consecutive day. In Delhi, the prices were slashed down by 20 paise per litre while the diesel prices went down by 15 paise per litre.

In Mumbai also the petrol and diesel prices came down by 20 and 15 paise per litre respectively whereas in Kolkata prices of petrol were cut down by 19 paise and in Chennai by 21 paise.

After the 13th reduction in the prices, the revised rates of Petrol in Delhi were recorded as Rs. 76.58 per litre, in Mumbai as Rs. 84.41 per litre, in Kolkata as Rs 79.25 per litre and in Chennai as Rs. 79.48 per litre.

While the prices of Diesel stood at Rs. 67.95 per litre in Delhi, Rs. 72.35 per litre in Mumbai, Rs. 70.50 per litre and Rs. 71.73 per litre in Chennai.

Fuels prices are been revised by the oil marketing companies on the daily basis depending on the international crude rates. Due to varied taxes and VAT across other states, the prices may differ from state to state whereas it is cheapest in Delhi as compared to other metros and state capitals.

When the fuel prices were touching Rs. 80 mark, Dharmendra Pradhan, Petroleum Minister said that the government is trying to figure out a permanent solution to fuel price volatility so that the prices of diesel and petrol don’t’ go beyond the reach of a common man.

Though, the industry had demanded reduction in excise duties on the fuel prices but still it going to deaf ears. Notably, the petrol and diesel prices were increased for 16 consecutive days on the basis of increasing crude oil prices in international market and currency going weaker.

It should also be noted that the reduction in last 13 days has been possible due to decreasing crude oil cost in global market and strengthening of rupee since May 30th.