New Delhi: Here is some relief news for the commuters who are battling the high fuel prices. According to the price notification by state-run oil companies, the price of petrol across the country has come down by 11 to 15 paise per liter and diesel by 14 to 16 paise on Tuesday.
What is the current rate of fuel prices?
The cut in fuel prices came after a brief halt on Monday, and the second cut since the second cut in petrol prices on Sunday. Petrol and diesel prices were cut by 15 paise each in Delhi. With the revision, the price of petrol has gone up to Rs 101.49 per liter, while diesel is being sold at Rs 88.92 per liter in the national capital.
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Fuel prices witnessed a similar trend across the country including Mumbai where petrol is being retailed at Rs 107.52 which is 14 paise less than the previous price of Rs 107.66.
Petrol prices in Mumbai are the highest among metro cities. Diesel is being sold at Rs 96.48 per liter in the financial capital city. The variation in fuel prices is due to VAT charges which vary from city to city. Petrol and diesel prices are determined on the basis of freight charges, local taxes and VAT.
Meanwhile, crude oil prices continue to rise. On Friday, Brent crude futures were trading at $69.41 per barrel. US West Texas Intermediate futures were at $66.24 a barrel, according to Reuters.
Check Latest Fuel Rates in Cities
City Petrol Prices Petrol Prices (Per Ltr)
Chennai Rs 99.20 Rs 93.52
Kolkata Rs.101.82 Rs.91.98
Pune Rs 107.08 Rs 94.59
Bengaluru Rs 104.98 Rs 94.34
Hyderabad Rs 105.54 Rs 96.99
Noida (UP) Rs 98.79 Rs 89.49
Chandigarh Rs 97.66 Rs 88.62
Gurugram 99.21 Rs 89.60
The cut in diesel prices is the fifth since August 18, when the cut cycle began.
India is dependent on imports for about 85 per cent to meet its oil demands and hence local fuel rates are benchmarked against international oil prices. The reduction in diesel rates on August 18 came after 33 days of status quo as oil companies adopted a moderation policy, which calls on consumers not to pass on excessive volatility in rates.
Petrol and diesel prices were last hiked on July 17.
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