Fuel price reduction: Petrol is Rs 77.02/litre in Delhi, Rs 84.84

Petrol and Diesel Prices Lowered For The Thirteenth Straight Day

Diesel rate per litre was down by 15 paise to Rs 67.95 in Delhi Rs 70.50 in Kolkata Rs 72.35 in Mumbai and Rs 71.73 in Chennai

Petrol price was fixed at Rs 82.01 per litre here. Petrol price in Delhi today stands at Rs 77.02 per litre against Friday's Rs 77.42 and to Rs 84.84 per litre as compared to Friday's Rs 85.24 in Mumbai. According to data available on Indian Oil's website, petrol and diesel prices have fallen by 24 paise per litre and 18 paise per litre respectively in Delhi, Kolkata.

The previous PML-N government on the final day of its tenure approved a rise in margins on petrol as well as diesel, which would compel oil consumers to pay additional billions of rupees.

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The 12 days of continuous dip in fuel prices comes as a minor relief since rates were hiked constantly for a period of 16 days. It was affected by the global crude oil rates where benchmark Brent had touched its 2014 peak of over $80 a barrel, while the rupee had slipped to an 18-month low of 68.42 against the USA dollar. Delhi has the cheapest price among all metros and most state capitals. Blaming geopolitics of oil, exchange rate fluctuations and local taxes for petrol and diesel prices touching a record high, he said the government is sensitive and will ensure that "poor, middle class are not pained". It costs Rs 66.71 per litre. In the 16 consecutive increases since dynamic pricing system was resumed on May 14, petrol price was hiked by Rs 3.8 per litre and diesel by Rs 3.38.

On June 6, Oil Minister Dharmendra Pradhan vowed to not allow petrol and diesel prices go out of reach of the common man, saying the government is working on a holistic solution to price volatility without going back on reforms.

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