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The price reduction canceled all gasoline and diesel price increases in two months from August 16th.
CarandBike Team (with PTI entries)
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The price of gasoline in Delhi has been reduced from 50 paisa to Rs. 73.57 per liter.
After a sharp rise in the last six weeks, the price of gasoline fell Wednesday under the bar of 74 € per liter for the first time since April. The price of gasoline in Delhi has been reduced from 50 paisa to £ 73.57 per liter, according to a price notice issued by state-owned fuel retailers. Diesel rates have been reduced from 40 paisa to 68.89 £ per liter. With this, the rate reduction over the last six weeks amounts to ¼ 9.26 per liter of gasoline and £ 7.2 per liter of diesel. Rates have been going down since October 18th. This canceled the entire gasoline and diesel price hike in two months from August 16th.
The price of gasoline reached a record level of £ 84.00 per liter in Delhi and £ 91.34 in Mumbai on October 4. That day, diesel fuel consumption reached an unprecedented high: £ 75.45 per liter in Delhi and £ 80.10 in Mumbai. The increase in fuel prices had a negative impact during this festive season. According to data published by the Federation of Automobile Dealers Associations (FADA), retail sales of pbadenger vehicles registered a decrease of 14%, with 287,717 units sold during the holiday season 2018, compared with 333 456 units sold during the last holiday season. year. Sales at two-wheelers also fell by 13%, with 15.83,276 units sold during the holiday season, compared to 18,11703 units sold last year.
Read also: Festive Season 2018: Auto Industry Records Poor Sales
However, the reduction in fuel prices has helped automakers maintain a positive climate and they hope to reach their sales targets for the next year. fiscal year 2018-2019. On October 4, the government decided to reduce excise duties on gasoline and diesel by £ 1.50 a liter and asked state-owned fuel retailers to subsidize price of 1 ¤ extra per liter by reducing their margins. Many states, including Maharashtra, have matched this reduction with a reduction in local sales tax or VAT. Following this, the price of gasoline fell to 81.50 ı per liter in Delhi and the price of diesel to 72.95 Rs on 5 October. In Mumbai, rates fell to £ 86.97 per liter for gasoline and £ 77.45 for diesel.
Pbadenger car segment records growth of 1.55% in October
The price of gasoline and diesel fuel in Delhi increases from £ 17.8 to £ 75.69 on 17 October Delhi. In Mumbai, oil and diesel prices were £ 88.29 per liter. gasoline and 79.35 per liter for diesel. But since then, international oil prices have fallen and the rupee has also appreciated, which has resulted in lower retail rates. With international oil prices dropping to US $ 60 a barrel, retail prices for gasoline and diesel could prevail in the coming days.
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The retail price of gasoline and diesel depends on international crude oil prices and the rupee – US dollar exchange rate.
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