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After 16 days of hike, petrol and diesel prices witness slight drop

The petrol prices have been cut down to 60 paise in Delhi and 59 paise in Mumbai while diesel price went down by 56 paise in Delhi and 59 paise in Mumbai.

business Updated: May 30, 2018 08:24 IST
Asian News International
Asian News International
Asian News International, New Delhi
petrol price,fuel price hike,diesel price
A petrol pump employee adjusts the price board at a fuel station.(PTI Photo)

After 16 days of continuous hike, fuel prices on Wednesday witnessed a slight drop.

The petrol prices have been cut down to 60 paise in Delhi and 59 paise in Mumbai while diesel price went down by 56 paise in Delhi and 59 paise in Mumbai.

The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: Rs 85.65; Kolkata: Rs 80.47 and Chennai: Rs 80.80.

Meanwhile, the cost of diesel per litre as on Wednesday is Rs 68.75 per litre in Delhi, Rs 73.20 per litre in Mumbai, Rs. 71.30 in Kolkata and Rs. 72.58 in Chennai.

The straight fuel price hike has caused inconvenience and disappointment among the general public for the last 16th days.

With the increase in fuel prices made a hole in the pockets of the buyers, the people across the nation condemned the Centre for the continuous increase in the fuel prices.

To which, Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier assured the public that the government will soon take out a solution to tackle the situation.

He further pointed out that less production of oil in the Organization of the Petroleum Exporting Countries (OPEC) and hike in crude oil price in the international market are some of the factors affecting the fuel price.

In April, Pradhan had said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.

First Published: May 30, 2018 08:21 IST