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Prices for major transportation fuels – gasoline and diesel – were cut for the 13th consecutive day Tuesday due to lower international oil prices.
The price of gasoline has dropped by 20 pounds per liter in major cities.
In New Delhi, gasoline now costs 79.55 Rs per liter against 79.75 Monday.
According to a price opinion issued by state oil companies, gasoline is now sold at Rs 85.04 in Mumbai, Rs 82.65 in Chennai and Rs 81.43 in Kolkata.
In 13 consecutive cuts, the price of gasoline was reduced by 3.28 rupees per liter and that of diesel by 1.84 rupees per liter in Delhi.
Along with the price of gasoline, the price of diesel has decreased to about 7 and 8 major cities. The price of diesel in Mumbai is down by Rs 77.32 per liter.
Similarly, diesel prices in Delhi, Kolkata and Chennai fell to Rs 73.78, Rs 75.63 and 78.0 liters per liter respectively.
Consecutive reductions in fuel consumption the fall in international oil prices and the appreciation of the rupee drive up prices
Before fuel prices start to fall on October 18, prices gasoline and diesel had reached unprecedented levels throughout the country.
While gasoline reached a record 84 liters per liter, diesel prices reached 75.45 Rs per liter in Delhi on 4 October. On that day, the government decided to reduce excise duties on gasoline and diesel by Rs 1.50 per liter and asked state-owned fuel retailers to subsidize their purchases. another liter per liter by reducing their margins.
But as international oil prices rose, Delhi's gasoline and diesel prices rose to 82.83 Rs per liter and 75.69 Rs per liter on 16 October. , international oil prices have fallen and the rupee is also appreciated.
The retail price of gasoline and diesel depends on international reference fuel prices and the rupee / US dollar exchange rate. Indeed, a large part of the country's needs are satisfied by imports.
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