Fuel prices continue to come down in Pune

Jaitley on October 4 had announced a reduction of ₹2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by ₹1.50 per litre. Maharashtra government also reduced taxes on both petrol and diesel.

Fuel prices continued to witness a downfall on Sunday, providing the much-needed relief to consumers from the relentless rate hikes seen in the past couple of months. Petrol was sold at ₹85.85 per litre (decrease by ₹0.35) and diesel was priced at ₹76.70 per litre (decrease by ₹0.24) in Pune city.

Petrol was sold at ₹85.85 per litre (decrease by ₹0.35) and diesel was priced at ₹76.70 per litre (decrease by ₹0.24) in Pune city. (Sonu Mehta/HT PHOTO)

This is the 11th straight reduction in rates on softening international oil prices.

“On a daily basis, the decline in petrol and diesel prices commenced after finance minister Arun Jaitley announced a cut in excise duty.The downward revision came through due to a lot of factors such as lower international crude oil cost and a strengthened rupee against the US dollar,” said Ali Daruwala, national spokesperson, all India petroleum dealers association. Prices vary from region to region due to local taxes.The prices will reduce further, he added.

Jaitley on October 4 had announced a reduction of ₹2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by ₹ 1.50 per litre. Then, Maharashtra government also reduced taxes on both petrol and diesel.

On June 5, petrol was being sold at ₹85.48 per litre. After three months in September, petrol prices settled at ₹90 per litre.