New Delhi: Prices for petrol and diesel have fallen by 6 paise and 5 paise per litre respectively on Friday.
In Delhi, Petrol now costs Rs 78.29 per litre, while diesel price has been revised to Rs 69.20 a litre. Besides Delhi, the revised Petrol prices in other metro cities are – Rs 80.92 in Kolkata, Rs 86.10 in Mumbai and Rs 81.28 in Chennai.
Meanwhile, the revised Diesel price was Rs 71.75 in Kolkata, Rs 73.67 in Mumbai and 73.06 in Chennai. The fuel price was slashed for the third day after it remained high for 16 consecutive days.
The fuel price cut, though modest, apparently came after it was learnt that rising prices of fuel are likely to weigh on the Reserve Bank’s rate-setting panel, Monetary Policy Committee (MPC), at its 3-day meet from June 4.
This is the first time that the Monetary Policy Committee will meet for three days due to “administrative exigencies”. In the normal course, it meets every two months for two-days before making public its monetary policy stance.