New Delhi: Fuel price dropped for the 13th day in a row on Friday. Petrol saw a decrease of 0.19 paisa in Delhi while, its price fell by 0.18 paisa in Mumbai. On the other hand, diesel price are down by 0.14 paisa in both the cities. (Check the live Petrol And Diesel Price Here) Also Read - Petrol Price in Mumbai Soars to Over Rs 100 Per Litre, Diesel at Rs 92.17/Litre
With the decrease in the fuel prices, petrol and diesel are being sold at Rs 79.18 per litre and Rs 73.64 per litre, in Delhi and at Rs 84.68 per litre and Rs 77.18 per litre in Mumbai. Also Read - Petrol Price To Cross Rs 100 in Mumbai, Touches Highest Level Ever in Rajasthan, Maharashtra; Details Inside
On Thursday, petrol and diesel was being sold at Rs 79.37 per litre and Rs 73.78 per litre, in Delhi while, in Mumbai the rates was Rs 84.86 per litre and Rs 77.32 per litre, respectively. Also Read - Petrol, Diesel Prices Rise For Second Day Across India: Check Revised Rates in Delhi, Mumbai, Other Cities
Fuel prices have been steadily declining for over 13 days now as oil companies factored in softening of international rates. However earlier, the petrol and diesel prices had witnessed a relentless hike in the country, burning a hole in the common commuter’s pocket.
Earlier last week, Union Minister Dharmendra Pradhan had said last week that crude prices were not under the control of the Indian government and were determined by international forces. “Oil prices are beyond the control of the Indian Government. It is an international commodity. We promised to the people of this country that we will not push our country into indebtedness. That is the reason we took some burden on us,” he said.
Adding further, he claimed, “Whatever the price the international market dictates, India has to pay.”
Amid the spiralling fuel prices, Union Finance Minister Arun Jaitley had on October 4 announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre.
Before the price cut, petrol in Delhi had hit an all-time high of Rs 84 per litre and diesel was at record Rs 75.45. This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel. In Mumbai, petrol had hit a peak of Rs 91.34 hit on October 4 and diesel was sold at a record high of Rs 80.10.
The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. “This is because a large proportion of country’s requirement is met through imports,” an official statement added.