Petrol, diesel prices cut for fourth straight day

Petrol and diesel prices in Delhi down to Rs 81.99 per litre

Petrol and diesel prices in Delhi down to Rs 81.99 per litre

Sources said that the deviation in the trend is mainly due to a slow decrease in the prices of diesel in comparison with the petrol prices which was slashed by 83 paisa on Saturday.

In Delhi, petrol now costs Rs 81.74 a litre and diesel is priced at Rs 75.19 per litre. Similarly, petrol and diesel prices in Mumbai are now at Rs 87.21 per litre, slashed by Rs 0.25, and Rs 78.82 per litre, slashed by Rs 0.18, respectively.

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.

Sanjay Lath, secretary of Utkal Petroleum Dealers' Association said, "Usually there was a difference of 10 per cent in the prices of diesel and petrol".

In the two other metro cities, the same cut was seen. The price of diesel per litre was slashed by a mere 35 paisa yesterday. The domestic fuel prices depend upon the worldwide fuel prices on a 15-day average and the value of the Indian rupee. Prices vary from region to region due to local taxes as the product is excluded from the GST regime.

The price cut follows global oil prices trading near the lowest level in a month on a bigger-than-expected gain in American stockpiles.

The dip in fuel prices comes almost a fortnight after Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre.

Making an appeal to Arvind Kejriwal, Singhania in a statement said, "DPDA urges the Delhi government to immediately reduce Value-Added Tax on petrol and diesel and encourage commuters to buy euro VI fuel and save the livelihood of employees and owners of petrol pumps of Delhi and also save state's revenue loss". This is the first time after the announcement that the prices have come down.

The fuel prices have come down by 87 paise in the last three days. Following the strike call, all petrol and CNG (Compressed Natural Gas) pumps in the national capital will remain closed.

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