Mumbai: State-run oil companies reduced petrol and diesel prices across India on Tuesday after a one-day pause. This is the second cut in petrol prices in the last three days.
Petrol price was cut by 11 to 15 paise per litre across the country on August 24, according to a price notification by state-run oil companies. Diesel prices also decreased by 14 to 16 paise on the day.
A 15 paise cut took petrol price in Delhi to ₹101.49/litre and diesel to ₹88.92. In Mumbai, petrol now costs ₹107.52/litre, while diesel is being sold at ₹96.48. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre
Diesel price also fell by 16 paise to Rs 96.48 per litre in the capital of Maharashtra.
Petrol and diesel prices in Kolkata were cut by 11 and 15 paise respectively. With the revision, a litre of petrol in the capital of West Bengal was sold for Rs 101.82 and diesel for Rs 91.98.
In Chennai, one litre of petrol was sold at Rs 99.20, down by 12 paise. The DMK government in Tamil Nadu recently announced a tax cut of Rs 3 per litre on petrol. The price of diesel in the Tamil Nadu capital was reduced by 14 paise to Rs 93.52 per litre.
The price cut comes after international oil prices fell to their lowest level since May, when the US Federal Reserve signalled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.
The price cut in diesel is the fifth since August 18, when the reduction cycle began.
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