Fuel prices reduced for 13th day, petrol now at Rs 76.58 a litre in Delhi | business news | Hindustan Times
  • Monday, Jul 16, 2018
  •   °C  
Today in New Delhi, India
Jul 16, 2018-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Fuel prices reduced for 13th day, petrol now at Rs 76.58 a litre in Delhi

In Delhi, petrol now costs Rs 76.52 a litre, and diesel costs Rs 67.95 per litre. After a 16-day long upward rally, fuel prices have been cut marginally everyday since May 30, in the range of 1 paise per litre, to 21-22 paise a litre.

business Updated: Jun 11, 2018 14:13 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai.
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai.(REUTERS)

Prices for petrol and diesel were reduced by 19-21 paise per litre and 15-16 paise per litre respectively in Delhi, Kolkata, Mumbai and Chennai on Monday.

In Delhi, petrol now costs Rs 76.52 a litre, and diesel costs Rs 67.95 per litre. After a 16-day long upward rally, fuel prices have been cut marginally everyday since May 30, in the range of 1 paise per litre, to 21-22 paise a litre.

Besides Delhi, revised petrol prices in other metro cities are - Rs 79.25 a litre in Kolkata, Rs 84.41 per litre in Mumbai and Rs79.48 in Chennai.

Diesel, on the other hand, was being sold at Rs 70.50 a litre in Kolkata, Rs 72.35 a litre in Mumbai and Rs 71.73 in Chennai.

In the fortnight before May 30, fuel prices had seen a sharp upward rally, reaching unprecedentedly high levels on account of rising global crude oil prices. High central and state government levies on petrol and diesel added to the burden on customers, who had to shell out almost half of the cost they paid for a litre of fuel in taxes.

The central government levies a duty of Rs 19.48 a litre on petrol and Rs 15.33 per litre on diesel, while states collect sales tax and VAT which ranges from 26% to over 47% (Mumbai) of the fuel cost that consumers pay.

Oil minister Dharmendra Pradhan had asked state governments to not reap a bonanza from rising crude oil prices, and tax fuel within a “reasonable and responsible band.”