Fuel prices see biggest drop in 10 days, petrol price cut by 21 paise a 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 on Friday.business Updated: Jun 08, 2018 12:38 IST
Prices for petrol and diesel have fallen by 21-22 paise per litre and 15-16 paise per litre respectively in Delhi, Kolkata, Mumbai and Chennai, compared with the previous day’s rates.
In Delhi, petrol now costs Rs 77.42 a litre, and diesel costs Rs 68.58 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 on Friday.
On Thursday, price for petrol was Rs 77.63 per litre, while diesel price was Rs 68.73 a litre in Delhi.
Besides Delhi, revised petrol prices in other metro cities are - Rs 80.07 a litre in Kolkata, Rs 85.24 per litre in Mumbai and Rs 80.37 in Chennai.
Diesel, on the other hand, was being sold at Rs 71.13 a litre in Kolkata, Rs 73.02 a litre in Mumbai and Rs 72.40 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.”
First Published: Jun 08, 2018 12:25 IST