New Delhi, June 2: In a relief for commuters, prices for petrol and diesel were cut by nine paise on Saturday. With a reduction of nine paise, petrol now costs Rs 78.20 a litre, and diesel costs Rs 69.11 per litre in the national capital. On Friday, the price for petrol was Rs 78.29 per litre, while diesel price was Rs 69.20 a litre in New Delhi. The revised petrol prices in other metro cities are – Rs 80.84 in Kolkata, Rs 86.01 in Mumbai and Rs 81.19 in Chennai.  Meanwhile, the revised diesel prices in other metro cities are – Rs 71.66 in Kolkata, Rs 73.58 in Mumbai and 72.97 in Chennai.

In the past few days, petrol prices have increased across the country by over Rs 4 per litre. The reason behind the increase in petrol prices in the country is the rise in the crude oil cost and high taxes levied by the central and state government.

On June 1, petrol costs Rs 80.92 per litre in Kolkata while diesel was at Rs 71.75 per litre. On the other hand, petrol price in Mumbai and Chennai was Rs 86.10 and Rs 81.28 per litre, respectively. Diesel rate in both the metro cities is Rs 73.67 and Rs 73.96 per litre.

Earlier on Thursday, the petrol price was down by 7 paise to cost Rs 78.35 a litre whereas, diesel rate was cut to Rs 69.25 per litre. Petrol and diesel prices were on Wednesday cut by 1 paisa a litre each after a 16-day relentless price hike that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls. On Tuesday, rates touched an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi.

NITI Aayog vice-chairman Rajiv Kumar had asked states to reduce the tax on petrol. Kumar said, “There is merit in reducing the duties, but both by the states and the Centre. More so for the states as they tax the oil on ad valorem basis … So states can take that cut much more and better than the Union government.”

Petroleum prices do not fall under the ambit of Goods and Services Tax (GST) and are one of the big sources of revenue for the state government.

(With agency inputs)