INSUBCONTINENT EXCLUSIVE:
Petrol prices were cut by Rs 2.88 a litre, and diesel by Rs 1.93 a litre in past 1 monthAfter a series of fuel rate cuts over past one
month, petrol prices have come down by Rs 2.88 a litre in Delhi from its peak of Rs 78.43 on May 29
Similarly, diesel prices have fallen by Rs 1.93 a litre since May 29 when the fuel hit a high of Rs 69.31
In Mumbai and Chennai, petrol prices were cut by Rs 3.18 and Rs 3.03, respectively, during this period
on May 30 was just one paisa
Early in the day on May 30, the first price cut had come as a major relief since it was thought to be 60 paise (as was mentioned on the IOC
website) but later it was rectified to just one paise per litre.However, several price cuts followed in the forthcoming days and now, the
petrol prices in Delhi stand Rs 2.88 lower, and diesel prices Rs 1.93 lower against the fuel rates a month ago
In past one month, petrol prices have been lowered 22 times, while diesel prices were reduced on 18 days, as per the information shared on
IOC (Indian Oil Corporation) website.Ironically, a month after continuous rate cuts, the fuel rates have remained constant for the third day
In Delhi and Mumbai, petrol prices now stand at Rs 75.55 and Rs 83.12 a litre
At the same time, petrol is being sold for Rs 78.23 and Rs 78.40 in Kolkata and Chennai, respectively, from 6 am onwards today
Likewise, diesel prices didn't change from the Thursday's level of Rs 67.38 in Delhi
In Kolkata, Mumbai and Chennai, diesel prices stand at Rs 69.93, Rs 71.52 and Rs 71.12, respectively.Until June 26 (the day when the last
daily price cut happened), petrol prices had been cut for six consecutive days and diesel prices for three days in a row.On June 26, oil
marketing companies (IOC, HPCL, BPCL) cut the petrol prices in the range of 14 to 18 paise, and diesel prices in the range of 10 to 12
paise.Fuel Prices In Metro CitiesPetrol is being sold for Rs 75.55 in Delhi and for Rs 83.12 in MumbaiIt was in June 2010 when the central
government freed petrol pricing from its control, in other words deregulated it
Four years later, diesel prices were de-regulated in October 2014
Last year was quite historic for the fuel prices since the government allowed daily revision of prices starting mid-June 2017
This enables the oil marketing companies to raise or decrease the fuel prices in tandem with the change in crude oil prices, rupee-dollar
exchange rate, among other factors affecting the change in fuel prices.Petrol Prices In Non-Metro CitiesThe central government raised excise
duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine instalments between November 2014 and January 2016 to
shore up finances as global oil prices fell.Diesel Prices In Non-Metro CitiesHowever, the government cut the tax just once in October last
year by Rs 2 a litre, the report further said.
