New Delhi: Here’s a breather for commuters who have been reeling under the high cost of fuel. The petrol price has gone down by 11 to 15 paise per litre and diesel prices also came down by 14 to 16 paise across the country on Tuesday, as per the price notification by state-run oil companies.
What is the current rate of fuel prices?
The cut in fuel prices has come after a brief pause on Monday, and a second cut in petrol price since it was slashed on Sunday. The petrol and diesel prices were cut by 15 paise each in Delhi. With the revision, the petrol is costing Rs 101.49 per litre, while diesel is sold at Rs 88.92 per litre in the national capital.
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The fuel prices witnessed a similar trend across the country including Mumbai where the petrol price is being retailed at Rs 107.52, 14 paise down from the previous price of Rs 107. 66.
The petrol prices in Mumbai remains the highest among metro cities. Diesel in the financial capital city is being sold at Rs 96.48 per litre. The variation in fuel prices is because of VAT charges which differ from every city. Petrol and diesel prices are determined on the basis of freight charges, local taxes, and VAT.
Meanwhile, crude oil prices are on the rise. Brent crude futures were trading at $69.41 per barrel on Friday. US West Texas Intermediate futures were at $66.24 a barrel, according to Reuters.
Check latest fuel rates in cities
City Petrol prices Petrol prices (per litre)
Chennai Rs 99.20 Rs 93.52
Kolkata Rs 101.82 Rs 91.98
Pune Rs 107.08 Rs 94.59
Bengaluru Rs 104.98 Rs 94.34
Hyderabad Rs 105.54 Rs 96.99
Noida (UP) Rs 98.79 Rs 89.49
Chandigarh Rs 97.66 Rs 88.62
Gurugram Rs 99.21 Rs 89.60
The price cut in diesel is the fifth since August 18, when the reduction cycle began.
India is almost 85 per cent dependent on imports to meet its oil demands and hence local fuel rates are benchmarked against international oil prices. The slash in diesel rates on August 18 came after 33 days of status quo in rates as oil companies followed what is known as moderation policy which calls for not passing on extreme volatility in rates to consumers.
Petrol and diesel price was last hiked on July 17.
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