Petrol prices down by 19 paise in Delhi, diesel drops 11 paise

Petrol prices witness dip again costs Rs 78.99 in Delhi

In Mumbai, petrol had hit a peak of Rs 91.34 hit on October 4 and diesel was sold at a record high of Rs 80.10. 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.

The prices of petrol and diesel stand at Rs 79.18 per litre (decrease by Rs 0.19) and Rs 73.64 per litre (decrease by Rs 0.14) respectively in Delhi.

The price of Petrol (Octane 92) came down by Rs. 10 per litre, while the price of Auto Diesel was reduced by Rs.7 per litre.

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Petrol prices fell by 18-20 paise a litre across the four metros while diesel prices dipped by 12-15 paise a litre.

RAC Fuel Watch data shows there was a 3.5p per litre fall in wholesale prices yet petrol started and finished the month at 130.6p per litre. But beginning October 18, worldwide oil prices have been falling and the rupee has also appreciated against the USA dollar which pulled the fuel rates down. The trend of fuel prices coming down has been observed from past two weeks. State-run oil marketing companies Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise fuel prices with effect from 06:00 am on a daily basis.

The petrol and diesel rate cut comes as a relief amid a relentless hike across the country in previous months. Due to that petrol and diesel are now cheaper in Noida compared to Delhi.

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