Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month period beginning mid-August. Petrol price Sunday was cut by 21 paise a litre and diesel by 17 paise, according to a price notification issued by state-owned fuel retailers.
In Delhi, petrol now costs Rs 78.78 per litre while diesel is priced at Rs 73.36, it said. Petrol in Mumbai costs Rs 82.28 and diesel Rs 76.88. With this, the reduction in rates in last 18 days now totals Rs 4.05 per litre for petrol and Rs 2.33 for diesel.
Rates have been on the decline since October 18. Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. Read more