NEW DELHI: Fuel prices across the country continued inching downward on Saturday after more than a fortnight of sharp raises, with petrol and diesel rates lashed by around 9 paise across the metros.
In Delhi, petrol now costs Rs 78.20 a litre, and diesel costs Rs 69.11 per litre. On Friday, price of a litre of petrol was Rs 78.29 per litre, while diesel was sold at Rs 69.20 a litre.
The revised petrol prices in other metro cities on Saturday were — Rs 80.84 in Kolkata, Rs 86.01 in Mumbai and Rs 81.19 in Chennai. Revised diesel prices were — Rs 71.66 in Kolkata, Rs 73.58 in Mumbai and Rs 72.97 in Chennai.
This is the fourth straight day of price reduction after oil marketing firms raised fuel rates for 16 consecutive days after the end of the Karnataka polls to catch up with sharply rising crude oil prices on the global market. However, with crude oil prices correcting by more than $4 per barrel between May 23 and May 28, oil marketing firms have begun cutting prices.
The first reduction on Wednesday (May 30) had aroused much criticism after the price cut announced came in at a paltry 1 paisa per litre. Before this 1 paisa per litre price cut, OMCs had hiked prices for 16 consecutive days following the Karnataka polls. Prices had been frozen for 19 days during the run-up to the polls. In all, petrol prices were increased by Rs 3.8 per litre and diesel by Rs 3.38 during that fortnight.
However, fuel prices have continued to fall since Wednesday, coming down by around 23 paisa per litre in Delhi, including Saturday’s revision.