Fuel prices cut for 5th day too; Petrol pumps to remain shut in Delhi today

Petrol and diesel prices witnessed another slight downslide on Monday, providing some relief to consumers battered by two months of relentless rate hikes. The cost of petrol and diesel in the national capital was brought down by 3 paise and 27 paise, respectively. The petrol is now being retailed in Delhi at Rs 81.44 per litre and diesel at Rs 74.92 per litre.

While the price of petrol in Mumbai today is Rs 86.91 per litre after dropping by Rs 0. 

30 On the other hand, the cost of diesel has been decreased by Rs 28 paise with the fuel costing Rs 78.54 per litre.

This fall in prices came for the fifth consecutive time after the fuel cost across the country witnessed a dip on some previous days, following the softening of international rates. In the last four days, petrol price has been cut by Rs 1.09 per litre and diesel by 50 paise.

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 0600 hrs on a daily basis.

Meanwhile, all 400 petrol pumps along with linked CNG dispensing units will remain shut from 6 am today to 5 am tomorrow in protest against Aam Aadmi Party-led Delhi government's refusal to reduce Value Added Tax (VAT) on diesel and petrol in the national capital.

On the other hand, a one-day strike of autorickshaws and taxis has been called by Sanyukt Sangharsh Samiti, one of the major auto-taxi unions in Delhi. Some have even threatened to block major roads in the city and stage a protest against the Centre near the Parliament.

Because of the high price in Delhi and low prices in states like UP and Haryana, customers are deserting the petrol pumps in Delhi leading to a huge drop in sales, Delhi Petrol Dealers Association (DPDA) president Nischal Singhania said.

Due to the difference in prices, there has been a sharp drop of 50-60 per cent in sale of diesel in Delhi and 25 per cent in petrol in this quarter, the DPDA president said, adding that on Monday, all the 400 pumps of Delhi will neither purchase nor sell petrol, diesel and CNG.