New Delhi: On the seventh consecutive day, the fuel prices saw another marginal decline. The petrol prices were lowered down by 13 paise per litre while diesel prices were lowered down by 11 paise per litre in Delhi. Despite the reduction in the fuel prices people are still eagerly waiting for the government to come up with a permanent solution on the fuel prices.
With the reduction on seventh day the petrol in Delhi will cost Rs. 77.83 per litre while diesel will cost Rs. 68.86 per litre.
In Mumbai, the prices for petrol and diesel for today will be Rs. 85.65 per litre and Rs. 73.33 per litre.
With the decline in fuel prices on seventh consecutive day, the petrol has come down by almost 60 paise per litre while diesel has come down by nearly 45 paise.
The petrol in Kolkata will cost Rs 80.47 per litre and Rs. 80.80 per litre in Chennai.
Though the price of petrol and diesel are cheapest in Delhi as compared to all metros and most state capitals but the prices may vary from state to state depending on the local sales tax or VAT.
Notably, the petrol and diesel prices increased up to Rs. 3.8 per litre and Rs. 3.38 per litre respectively earlier due to increase in the prices for 16 consecutive days and it was stable during the Karnataka elections.
While the hike in petrol prices were due to the rise in crude oil cost and heavy excise duties levied by the Government, the reduction in the fuel prices has been possible due to lowering down of global crude oil cost along with strengthening of rupee since May 30th.
There has been demand from the industry to reduce the excise duties too on the fuel so as to further bring down the cost of the petrol and diesel prices.