Petrol price today: In a major relief to consumers, petrol prices were slashed for the 7th straight day on Wednesday, taking the total cut to Rs 1.58 in Delhi in the last one week.
Petrol price today: In a major relief to consumers, petrol prices were slashed for the 7th straight day on Wednesday, taking the total cut to Rs 1.58 in Delhi in the last one week. Petrol prices in Delhi were slashed to Rs 81.25 from Rs 81.34 yesterday, implying a 9 paise cut. In case of financial capital Mumbai, petrol prices were slashed to Rs 86.73, down from Rs 86.81 yesterday. In Chennai one litre of petrol is retailing at Rs 84.44, while in case of Kolkata, oil marketing companies have revised the petrol price to Rs 83.10. In the last 7 days, petrol prices have been cut by Rs 1.58 in Delhi, Rs 1.55 in Kolkata, Rs 1.56 in Mumbai and Rs 1.66 in Chennai.
The diesel prices in the metros were– Delhi Rs 74.85; Mumbai at Rs 78.46. In Kolkata, one litre of diesel is selling for Rs 76.70, in Chennai, the price of diesel has been revised to Rs 79.15.
Earlier this week, all 400 petrol pumps were shut across Delhi, in a mark of protest against the Arvind Kejriwal-led AAP government’s refusal to cut value added tax (VAT) on petrol and diesel. The strike remained in effect from 6 am on October 22nd morning to 5 am on 23rd October. According to the association, after the central government announced to reduce fuel prices by Rs 2.50 on October 4 by reducing excise duty and asking state-owned OMCs to bear subsidy, and states announcing VAT reduction subsequently, petrol and diesel prices have become cheaper in neighbouring Haryana and Uttar Pradesh, leading to a reduction in demand in the national capital.
Meanwhile, oil prices on Wednesday clawed back a fraction of their hefty losses the day before that came after Saudi Arabia said it would make up for supply disruptions from U.S. sanctions starting next month on Iran’s petroleum exports, Reuters reported. Front-month Brent crude oil futures were at $76.72 a barrel at 0320 GMT, 28 cents, or 0.4 percent, above their last close, said the agency report.