Petrol price cut by 7 paise/liter, diesel by 5 paise/liter
What's the story
Petrol price was today cut by 7 paise/liter and diesel by 5 paise/liter on the back of softening international oil rates.
This is the second reduction coming after a 16-day relentless price hike that followed lifting of 19-day hiatus on price revision before Karnataka polls.
In Delhi, petrol costs Rs. 78.35/liter, down from Rs. 78.42, while diesel costs Rs. 69.25/liter down from Rs. 69.30.
Hike
Petrol, diesel prices hiked by Rs. 3.8/liter, Rs. 3.38/liter, respectively
Petrol and diesel prices were yesterday cut by 1 paisa/liter each.
Before that, the rates were touching an all-time high of Rs. 78.43/liter for petrol and Rs. 69.31 for diesel in Delhi on Tuesday.
Prices vary from state-to-state depending on local sales tax.
In the 16 consecutive increases since May 14, petrol price was hiked by Rs. 3.8/liter and diesel by Rs. 3.38.