Petrol, diesel prices continue to dip on softer crude

Mae Love
November 5, 2018

In Delhi, the prices of petrol and diesel were Rs 78.99 a litre and Rs 73.53 a litre respectively, according to data available on Indian Oil Corporation website. While, petrol price decreased by 0.19 paisa in both the cities, the diesel price witnessed a fall of 0.11 paisa and 0.12 paisa in Delhi and Mumbai, respectively. Petrol and diesel prices were cut for the fourteenth consecutive day on softening global oil prices, providing some relief to consumers battered by two months of relentless rate hikes.

"Every motorist driving a petrol vehicle should feel aggrieved that the price of a litre stayed the same in October when it should have fallen by more than 3p", he said.

Like petrol today, there has been a significant reduction in diesel prices across the country.

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In Mumbai, petrol was sold at Rs 84.49 while the price of diesel was Rs 77.06 a litre. "That is the reason we took some burden on us", he said.

Even the supermarket retailers, which usually offer cheaper fuel than other retailers and have considerable influence over the national pump prices, maintained their price levels.

Last month, the Modi government in the Centre had slashed the excise duty on petrol and diesel by Rs. 1.50 per litre and also asked the PSU oil firms to subsidise fuel by 1 rupee per litre.

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