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Petrol price in Delhi was cut to Rs 76.71 a litre from Rs 76.91 on Saturday, according to a price notification issued by state-owned fuel retailers.
Due to fall in crude oil prices, petrol sells at Rs. 77.10 per litre and Rs 82.62 per litre in Delhi and Mumbai respectively.
In Mumbai, a litre of petrol is being retailed at Rs 83.72 (decrease by Rs 0.20), while diesel is being sold at Rs 76.38 per litre (decrease by Rs 0.19).
The fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the common commuter's pocket.
Petrol price was cut by 30 paise a litre and now costs Rs 79.75 a litre in Delhi, according to a price notification issued by state-owned oil firms.
In 11 straight cuts, petrol price has been reduced by Rs 2.78 per litre and diesel by Rs 1.64 a litre.
Petrol prices in the national capital were reduced by 40 paise to Rs 80.45, while diesel saw a reduction of 35 paise to fall to Rs 74.38.
In the last one week, retail prices have registered a reduction of Rs. 1.98 per litre on petrol and Rs. 0.96 per litre on diesel.
Many buses have even stopped services due to issues with the finance and lack of income to sustain them.
While other states have different VAT rates for petrol and diesel, Odisha charges a uniform 26 per cent VAT on both, says state petroleum dealers association
Amid the seemingly unending fuel price surge, Odisha set a national record of sorts as diesel soared above petrol prices for the first time in the country.
In Delhi, petrol now costs Rs 81.74 a litre and diesel is priced at Rs 75.19 per litre while in Mumbai, petrol is sold at Rs 87.21 per litre and diesel at Rs 78.82.
Petrol in Delhi now costs Rs 82.62 per litre as against Rs 82.83 a litre previously and a litre of diesel now costs Rs 75.58 as compared to Rs 75.69 previously.
In Delhi, approximately 9.38 crore litres of diesel and 10.62 crore litres of petrol is consumed within a month.
Petrol was selling at Rs 82.72 per litre in Delhi—an increase of Rs 1.22 per litre since October 4, when it was selling at Rs 84 per litre.