INSUBCONTINENT EXCLUSIVE:
Petrol in Mumbai costs Rs 82.28 and diesel Rs 76.88.New Delhi: Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the
last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month period beginning
In Delhi, petrol now costs Rs 78.78 per litre while diesel is priced at Rs 73.36, it said.Petrol in Mumbai costs Rs 82.28 and diesel Rs
With this, the reduction in rates in last 18 days now totals Rs 4.05 per litre for petrol and Rs 2.33 for diesel
Rates have been on the decline since October 18
Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4
Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai
Prices had started to climb from August 16
Petrol in Delhi was priced at Rs 77.14 and in Mumbai at Rs 84.58 per litre on August 15.Diesel on that day was priced at Rs 68.72 per litre
in Delhi and Rs 72.96 in Mumbai
Between August 16 and October 4, petrol price was hiked by Rs 6.86 per litre and diesel by Rs 6.73
On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers
to subsidise the price by another Re 1 a litre by reducing their margins
Subsequent to this, the petrol price came down to Rs 81.50 per litre in Delhi and diesel to Rs 72.95 a litre on October 5.In Mumbai, rates
fell to Rs 86.97 per litre for petrol and Rs 77.45 in case of diesel
As the international oil prices continued to rise, price of petrol and diesel in Delhi increased to Rs 82.83 and Rs 75.69 on October 17
In Mumbai, rates touched Rs 88.29 a litre for petrol and Rs 79.35 for diesel
But since then, international oil prices have been falling and rupee has also appreciated, resulting in decline in retail rates
Industry sources said as per the assessment, the retail prices of petrol and diesel may reign easy in the next few days.The retail selling
price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate
