Fuel Prices Cut For Fourth Straight Day: Check Petrol, Diesel Rates Here

Galtero Lara
Octubre 21, 2018

Citizens have a reason to rejoice, as fuel prices have witnessed further reduction on Sunday.

On October 20, the petrol costs Rs 81.99 per litre in Delhi and Rs 87.46 per litre in Mumbai while, diesel rate is recorded at Rs 75.36 per litre and Rs 79.00 per litre in Delhi and Mumbai, respectively. On the other hand, petrol saw a dip of 0.38 paisa per litre in Mumbai whereas, diesel price experienced a cut of 0.13 paisa per litre.

Fuel prices have been declining since Thursday as oil companies factored in softening of global rates. Diesel price has now been revised to Rs 75.19 per litre with a dip of Rs 0.17.

State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis. The reduction in BJP-ruled states was more as they matched this cut by an equivalent reduction in local sales tax or VAT. The strike has been called in protest against the Delhi government's refusal to cut VAT (Value Added Tax) on petrol and diesel.

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After the Centre cut excise duty by Rs 1.50 per litre and asked PSU oil firms to subsidise fuel by Re 1, Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut.

On Friday, West Texas Intermediate for November delivery settled at Dollars 69.12 a barrel on the New York Mercantile Exchange, while Brent for December settlement was at USD 79.78 a barrel on the London-based ICE Futures Europe exchange. While in Mumbai, Petrol and diesel prices are Rs 87.21 per litre (decrease by Rs 0.25) and Rs 78.82 per litre (decrease by Rs 0.18) respectively.

The price for diesel in Kolkata was Rs 77.21 per litre and in Chennai, it was Rs 79.69. The petrol and diesel prices deceased by 0.39 paisa per litre and 0.12 paisa per litre, respectively in Delhi.

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