Sunday, 18 November, 2018


Petrol, diesel prices slashed again: Check rates in Delhi, Mumbai, Kolkata

Since no revision in diesel margins was made like the way petrol margins were revised based on the CPI the OMCs claimed that they suffered a loss of Rs485 million from November 2017 to February 2018 Petrol, diesel prices slashed again: Check rates in Delhi, Mumbai, Kolkata
Conrad Doyle | 11 June, 2018, 17:23

Besides Delhi, the revised petrol prices in other metro cities are - ₹ 80.07 in Kolkata, ₹ 85.24 in Mumbai and ₹ 80.37 in Chennai.

Petrol and diesel prices have dipped again, for the tenth day in a row.

The price for a litre of petrol in Delhi, Kolkata, Mumbai and Chennai fell to Rs 76.58, Rs Rs 79.25, Rs 84.41 and Rs 79.48, respectively (as per the data from Indian Oil Corporation).

Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming. It was affected by the global crude oil rates where benchmark Brent had touched its 2014 peak of over $80 a barrel, while the rupee had slipped to an 18-month low of 68.42 against the U.S. dollar.

Oil minister Dharmendra Pradhan had asked state governments to not reap a bonanza from rising crude oil prices, and tax fuel within a "reasonable and responsible band". The prices in Delhi are the cheapest in all metros and most State capitals.

In this regard, the petroleum division suggested petrol margins of dealers and OMC's be increased by Rs.0.12 and Rs0.12 per litre respectively taking CPI readings from May 2017 to April 2018. These reductions followed rates touching an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi on May 29. The drop in petrol price was same in Mumbai, while it was one paisa higher in Chennai and one paisa lower in Kolkata.

Meanwhile, industry body Assocham on Friday said that reducing taxes is the best solution to check the spurt in fuel prices which would also tremendously help India on the exports front.

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