New Delhi
Prices for petrol and diesel have fallen by 7 paise and 5 paise per litre respectively. This is the second reduction in fuel prices in as many days. The reason behind the drop in prices was softening of international oil rates.
Petrol in Delhi now costs Rs. 78.35 per litre, down from Rs.78.42, according to a price notification issued by state-owned oil firms. Diesel price has been cut to Rs. 69.25 per litre from Rs. 69.30.
This is the second reduction in rates coming after a 16 day relentless fuel price rise that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls.
Yesterday, petrol and diesel prices were cut by 1 paisa a litre each. That reduction followed rates touching an all-time high of Rs. 78.43 per litre for petrol and Rs. 69.31 for diesel in Delhi on Tuesday.
Prices vary from state-to-state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals.
In the 16 consecutive increases since May 14, the price for petrol went up by Rs. 3.8 per litre and diesel by Rs. 3.38 per litre.
