Prices of fuel drop for eighth consecutive day: Check rates here

Prices of fuel across the country witnessed further reduction on Thursday, bringing citizens much-needed relief from skyrocketing fares. Notably, the petrol is being sold at Rs 81.10 per litre in Delhi and Rs 86.58 per litre in Mumbai. Diesel is being retailed at Rs 74.80 per litre and Rs 78.41 per litre in Delhi and Mumbai respectively.

The petrol prices were slashed by Rs 0.15 and Rs 0.10 in Delhi and Mumbai respectively. A reduction was also witnessed in diesel prices by Rs 0.5 in both Delhi and Mumbai.

In two other metro cities, almost the same cut was seen. The prices of petrol and diesel in Kolkata were Rs 82.95 and Rs 76.65, respectively. In Chennai, the prices were pegged at Rs 84.28 and Rs 79.09, respectively.

Importantly, the fuel prices have seen a continuous hike across the country from past few months. A slight decline in prices of fuel has brought some relief to the consumers.

On October 4, fuel prices were cut by a minimum Rs 2.50 on October 5 when the government’s only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. 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.

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