Petrol, diesel prices cut by 17 paise each in Mumbai; Check revised rates in your city

With international crude oil prices continue to fall on oversupply concerns, Oil Marketing Companies (OMCs) have further reduced the fuel prices in the country.

Fuel prices have come down by almost 10 per cent after witnessing a relentless hike in October. (Image: PTI)

New Delhi: With international crude oil prices continue to fall on oversupply concerns, Oil Marketing Companies (OMCs) have further reduced the fuel prices in the country. As per latest data, petrol prices have been reduced by 17 paise and diesel by 16 paise in the national capital. Currently, a litre of petrol is being sold at Rs 77.89 whereas diesel costs Rs 75.28 per litre. Likewise in Mumbai, rates of petrol and diesel have been reduced by 17 paise each with a litre of petrol being sold at Rs 83.40 and diesel at Rs 76.05. Fuel prices have also witnessed a similar decline in other metro cities of the country as well. A litre of petrol is being sold at Rs 80.07 whereas diesel at Rs 74.68. In Bangaluru, petrol and diesel are being sold at Rs 78.78 and Rs 73.21, respectively. In Chennai, petrol and diesel are being retailed at Rs 81.18 and Rs 76.98 respectively. A day after Diwali, the petrol and diesel prices were slashed by 0.21 paisa and 0.18 paisa in the national capital, whereas in Mumbai the fuel rate was cut by 0.20 paisa and 0.19 paisa, respectively. Including today’s cut, fuel prices have come down by almost 10 per cent after witnessing a relentless hike in October burning a hole in the common commuter’s pocket. On October 4, petrol prices touched an all-time high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai while diesel was at Rs 75.45 in Delhi and Rs 80.10 in Mumbai. Between mid-August and early October, petrol price was hiked by Rs 6.86 per litre and diesel by Rs 6.73. However, prices dipped soon after the government intervened and relaxed the excise duty on fuel which was followed by several state governments reducing the similar amount on its sales tax or VAT. According to a report by news agency Reuters, international oil prices have slipped by about $15 in a span of one month after peaking in early October, reaching their highest level in two-and-a-half years, with a barrel of Brent at over $85.