Petrol, diesel prices cut for fourth straight day

October 21, 2018 10:31

Petrol and diesel prices were cut for the fourth straight day Sunday on softening international oil prices, providing some relief to consumers battered by two months of relentless rate hikes.

Petrol price was cut by 25 paise a litre and diesel by 17 paise, according to the price notification of state-owned oil firms.

In Delhi, petrol now costs Rs 81.74 a litre and diesel is priced at Rs 75.19 per litre. In Mumbai, petrol is sold for Rs 87.21 per litre and diesel at Rs 78.82.

Fuel prices have been declining since Thursday as oil companies factored in softening of international rates. In four days, petrol price has been cut by Rs 1.09 per litre and diesel by 50 paise.

State-run oil marketing companies Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd revise fuel prices with effect from 0600 hrs on a daily basis.

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.

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