10 C
New Delhi
Sunday 26 January 2020

Petrol price cut by Rs 2, diesel by Re 1 in last 8 days

The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate

New Delhi: Petrol price has been cut by nearly Rs 2 per litre and diesel by Re 1 a litre in the last eight days on the back of softer international rates, an official statement said Friday.

Petrol price has been reduced by Rs 1.98 per litre and diesel by Rs 0.96 a litre during the last eight days.

In Delhi, petrol now costs Rs 80.85 per litre and diesel is priced at Rs 74.73 a litre, it said.

The rates are off their record high of Rs 84 per litre for petrol and Rs 75.45 a litre for diesel touched on 4 October.

On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise by another Re 1 a litre by reducing their margins.

Subsequent to this, the petrol price came down to Rs 81.50 per litre and diesel at Rs 72.95 a litre on 5 October, the statement said.

“As the international oil prices continued to rise, price of petrol and diesel in Delhi increased to Rs 82.83 per litre and Rs 75.69 per litre. (But) since last eight days, international oil prices have been falling and the rupee has also appreciated,” the statement said.

The twin factors have brought down fuel prices to a six-week low.

“As per the assessment, the retail prices of petrol and diesel may reign easily in the next few days,” it said.

The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate.

“This is because a large proportion of country’s requirement is met through imports,” the statement added.

Stay on top - Get daily news in your email inbox

Sirf Views

Soros Loves To Play Messiah To The Miserable

The opportunity to throw breadcrumbs massages the ego of NGOs supremacists run; the megalomaniac Soros is a personification of that ego

Pandits: 30 Years Since Being Ripped Apart

Pandits say, and rightly so, that their return to Kashmir cannot be pushed without ensuring a homeland for the Islam-ravaged community for conservation of their culture

Fear-Mongering In The Times Of CAA

No one lived in this country with so much fear before,” asserted a friend while dealing with India's newly amended citizenship...

CAA: Never Let A Good Crisis Go To Waste

So said Winston Churchill, a lesson for sure for Prime Miniter Narendra Modi who will use the opposition's calumny over CAA to his advantage

Archbishop Of Bangalore Spreading Canards About CAA

The letter of Archbishop Peter Machado to Prime Minister Narendra Modi, published in The Indian Express, is ridden with factual inaccuracies

Related Stories

Leave a Reply

For fearless journalism

%d bloggers like this: