Petrol price was cut by 15 to 20 paise per litre across the country after 35 days and diesel rates also came down by 18 to 20 paise after a day of pause, according to a notification by state-run oil companies on Sunday. Petrol and diesel prices were cut by 20 paise in Delhi. Petrol now costs ₹101.64 per litre and diesel ₹89.07 per litre in the national capital after the revision on Sunday.
In Mumbai, petrol was retailing at ₹107.66, 17 paise down from the previous price of ₹107.83. On May 29, Mumbai became the first metropolitan city in the country where petrol was being sold for more than ₹100 per litre. Diesel price also came down by 20 paise and was being sold at ₹96.64 per litre in the city.
Petrol and diesel saw price cuts of 15 and 19 paise, respectively in Kolkata. With the revision, a litre of petrol was sold at ₹101.93 and diesel ₹92.13 in West Bengal’s capital city. In Chennai, petrol was being sold at ₹99.32 with a price cut of 15 paise. Diesel price decreased by 18 paise and now people will have to pay ₹93.66 per litre for the fuel in Chennai.
Petrol price was increased by ₹11.44 a litre and diesel rates went up by ₹9.14 between May 4 and July 17. The raise during this period pushed petrol prices above ₹100-a-litre-mark in more than half of the country while diesel crossed that levels in at least three states.
{{/usCountry}}Petrol price was increased by ₹11.44 a litre and diesel rates went up by ₹9.14 between May 4 and July 17. The raise during this period pushed petrol prices above ₹100-a-litre-mark in more than half of the country while diesel crossed that levels in at least three states.
{{/usCountry}}Petrol and diesel rates of state-run Indian Oil Corporation's (IOC) pumps in Delhi are the benchmark for the entire country but retail prices of the two fuels differ from place to place because of variations in state taxes and local levies. India imports more than 80 per cent of the crude it processes and steep taxes are the other reason for high rates of petrol and diesel.