Petrol, diesel prices cut once again after Diwali

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NEW DELHI:  Amid a reduction in global crude oil and fuel prices, the country witnessed another reduction after Diwali.

 

Petrol and diesel prices in New Delhi witnessed a drop and will be sold at Rs 78.21 per litre (decrease by 21 paise) and Rs 72.89 per litre (decrease by 18 paise) respectively.

In Mumbai, a litre of petrol is being retailed at Rs 83.72 (decrease by Rs 0.20), while diesel is being sold at Rs 76.38 per litre (decrease by Rs 0.19).

Fuel prices are soaring since the past few months in the country, burning a hole in the commuter’s pocket.

In this regard, Union Finance Minister Arun Jaitley had on October 4 announced a reduction of both petrol and diesel prices.

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, petrol price had risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August.

With inputs from ANI 

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