Published: Sun, June 10, 2018
Markets | By Otis Pena

Fuel price reduction: Petrol is Rs 77.02/litre in Delhi, Rs 84.84

Fuel price reduction: Petrol is Rs 77.02/litre in Delhi, Rs 84.84

Petrol prices in Delhi fell by 21 paise to Rs. 77.42 per litre on Friday. In Delhi, petrol now costs ₹ 77.42 per litre, and diesel costs ₹ 68.58 per litre.

Across other metro cities, petrol dipped to Rs 79.44 in Kolkata, Rs 84.61 in Mumbai, and Rs 79.69 in Chennai.

The ten days of continuous dip in fuel prices comes as a minor relief since rates were hiked constantly for a period of 16 days. The reductions come on the back of softening of global oil rates and the rupee gaining against the U.S. dollar.

WNBA champions weren't invited to White House, will celebrate with community work
Socks and shoes came from Nike, Jordan Brand and DTLR Villa, and the Lynx plan to wash feet as part of their community service. The 2017 WNBA Champion Minnesota Lynx never got an invite to The White House following their title win almost a year ago.

The central government levies a duty of Rs 19.48 a litre on petrol and Rs 15.33 per litre on diesel, while states collect sales tax and VAT which ranges from 26% to over 47% (Mumbai) of the fuel cost that consumers pay. Delhi has the cheapest price among all metros and most state capitals. Blaming geopolitics of oil, exchange rate fluctuations and local taxes for petrol and diesel prices touching a record high, he said the government is sensitive and will ensure that "poor, middle class are not pained". These reductions followed rates touching an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi on May 29.

Oil corporations stopped their usual practice of revising fuel prices daily on April 24 and only resumed it on May 14. It costs Rs 66.71 per litre. "It will make India's exports competitive, bring down current account deficit and we may also no longer see the rupee depreciating", PTI quoted Assocham Secretary General D S Rawat as saying.

Like this: