Gasoline and diesel prices drop for the fourth day in a row, check your city rates

Gasoline and diesel prices across the country saw a further decline Sunday, bringing citizens a well-deserved respite from soaring prices with the fourth reduction in as many days .

The price of gasoline in Delhi was today reduced by 0.25 Rs, bringing it down to 81.74 Rs per liter. The price of diesel was revised to 75.19 rupees per liter, with a low of 0.17 rupees. Similarly, prices for gasoline and diesel in Mumbai are now 87.21 Rs per liter, reduced by 0.25 Rs and Rs 78.82 per liter by 0.18 Rs respectively.

in a month. Domestic fuel prices depend on international fuel prices over an average of 15 days and the value of the Indian rupee.

Prices for gasoline and diesel were reduced for the first time in more than two months on Thursday due to a lower cost.

Rates were reduced by a minimum of Rs 2.50 per liter nationwide on October 5, when the government reduced excise duties on gasoline and diesel by Rs. 1.50 per liter and asked the PSUs to subsidize fuels by another Re 1 per liter. The reduction in the number of states governed by the BJP corresponded more to an equivalent reduction of the local sales tax or VAT.

Prior to Thursday's tariff reduction, the price of diesel had risen by Rs 2.74 per liter since October 5, to more than eliminate the reduction of excise duties and subsidy from oil companies. The price of gasoline increased by Rs 1.33 per liter during this period.

Before the 5 October price cut, the price of petrol in Delhi had reached the record level of Rs 84 per liter and diesel reached a record Rs 75.45. This amounted to Rs 81.50. per liter for gasoline and 72.95 rupees for diesel.

In Mumbai, gasoline peaked at 91.34 rupees on 4 October and diesel was sold at a record high of 80.10 rupees. ] The central BJP government increased the excise duty on gasoline by Rs 11.77 per liter and the diesel fuel by Rs 13.47 per liter in nine installments between November 2014 and January 2016 so to consolidate financial finances as world oil prices dropped the tax just once last October by Rs 2 per liter.

(With PTI entries)