State-run fuel retailers cut the price of petrol by Rs 1.15 a litre, excluding local taxes. This is the second reduction in a month.
The new prices will be effective from Thursday midnight. For petrol, the actual cut at pump level will be Rs 1.38 to Rs 71.02 in Delhi due to incremental reduction in VAT. Similarly, it will cost Rs 78.04 a litre in Mumbai against Rs 79.49.
Diesel price in Delhi has been hiked by 56 paise to Rs 53.10 per litre, while it will cost Rs 60.08 in Mumbai, up from Rs 59.46. This is the 10th hike in diesel price and should have brought the fuel’s rate to market level. But the rupee’s devaluation widened the gap between government-controlled retail and market prices to Rs 14.50 per litre. After this hike and the recent hardening of the rupee, the gap is pegged at Rs 9.58.
Petrol rates were last reduced on October 1 by Rs 3.05 per litre, or Rs 3.66 after including VAT in Delhi. This was the first cut since June and came after seven increases aggregating Rs 10.80 per litre, excluding VAT, or Rs 13.06 after including state tax as the rupee depreciated sharply against the dollar.
The new prices will be effective from Thursday midnight. For petrol, the actual cut at pump level will be Rs 1.38 to Rs 71.02 in Delhi due to incremental reduction in VAT. Similarly, it will cost Rs 78.04 a litre in Mumbai against Rs 79.49.
Diesel price in Delhi has been hiked by 56 paise to Rs 53.10 per litre, while it will cost Rs 60.08 in Mumbai, up from Rs 59.46. This is the 10th hike in diesel price and should have brought the fuel’s rate to market level. But the rupee’s devaluation widened the gap between government-controlled retail and market prices to Rs 14.50 per litre. After this hike and the recent hardening of the rupee, the gap is pegged at Rs 9.58.
Petrol rates were last reduced on October 1 by Rs 3.05 per litre, or Rs 3.66 after including VAT in Delhi. This was the first cut since June and came after seven increases aggregating Rs 10.80 per litre, excluding VAT, or Rs 13.06 after including state tax as the rupee depreciated sharply against the dollar.
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