On the straight 14th day, Petrol prices were cut by 15 paise per litre and diesel by 10-11 prices thus decreasing the prices of diesel and petrol by Rs 1.5 per litre and Rs 2 per litre since May 29. The continuous changes in the fuel prices is due to the deregulation in the country and it is totally market-determined now. Any changes came as an effect from 6 am every day at the fuel stations.
Price cut on the consecutive 14th day is confirmed by the Economic Affairs secretary Subhash Chandra Garg by twitter. He said, “Petrol Prices cut by another 15 paise in Delhi today. Almost two rupees down from its price 14 days ago. Likewise substantial reduction in diesel price as well. Also reflect Brent crude, petrol and diesel prices declining from their peak and steadying”.
According to the Indian Oil Corporation, Petrol prices in Delhi stands at Rs 76.43 per litre while it is Rs 79.1 per litre, Rs 79.33 per litre and Rs 84.26 per litre in Kolkata, Chennai and Mumbai respectively.
The diesel prices in Delhi, Kolkata, Mumbai and Chennai are Rs 67.85 per litre, Rs 70.4 per litre, Rs 72.24 per litre and Rs 71.62 per litre respectively.
The fuel prices cut recently marked a big relief since May 29 as before that the petrol prices were hiked by Rs 3.8 litre to Rs 4 litre per litre while the diesel prices were hiked by the Rs 3.23 to Rs 3.62 per litre.
On Tuesday, the international oil markets witnessed a fluctuation in the petrol and diesel prices as an outcome of a historic summit between US President Donald Trump and North Korean leader Kim Jong Un.
The sale of the petrol and diesel was recorded high on May and the country’s fuel consumption is increasing year-on-year.