Fuel price drop: Petrol costs Rs 83.07 per litre in Mumbai, Rs 77.56 per litre in Delhi

Fuel prices continued to dip on Monday. Notably, petrol prices were slashed by Rs 0.17 in Delhi and Mumbai. A reduction was also witnessed in diesel prices by Rs 0.15 and Rs 0.16 respectively.

Following the reduction, petrol is being sold at Rs 77.56 per litre in Delhi and Rs 83.07 per litre in Mumbai. Diesel is being retailed at Rs 72.31 per litre and Rs 75.76 per litre in Delhi and Mumbai respectively.

The news agency ANI quoted, “Petrol and diesel prices in #Delhi are Rs 77.56 per litre (decrease by Rs 0.17) and Rs 72.31 per litre (decrease by Rs 0.15), respectively. Petrol and diesel prices in #Mumbai are Rs 83.07 per litre (decrease by Rs 0.17) and Rs 75.76 (decrease by Rs 0.16), respectively.”

Petrol and diesel prices in #Delhi are Rs 77.56 per litre (decrease by Rs 0.17) and Rs 72.31 per litre (decrease by Rs 0.15), respectively. Petrol and diesel prices in #Mumbai are Rs 83.07 per litre (decrease by Rs 0.17) and Rs 75.76 (decrease by Rs 0.16), respectively. pic.twitter.com/4mIKtwKrIn

— ANI (@ANI) November 12, 2018

Petrol in Delhi had hit an all-time high of Rs 84 per litre and diesel was at record Rs 75.45. In Mumbai, petrol price peaked at Rs 91.34 hit on October 4 and diesel was sold at a record high of Rs 80.10.

On October 4, fuel prices were cut by a minimum Rs 2.50. On October 5 when the government’s cut in excise duty of Rs 1.50 per litre was implemented, then state-owned fuel retailers provided a Re 1 per litre subsidy. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction in local sales tax or VAT.

Delhi, which did not cut VAT on fuel, still has the cheapest fuel among all the metros and bulk of state capital as it levies lower taxes. On the other side, Mumbai despite reducing VAT on petrol still has the highest priced fuel.

Also Read: Fuel prices witness yet another dip across India: Check revised rates here