New Delhi: Petrol and diesel prices were reduced by 14-15 paise per litre across Delhi, Kolkata, Mumbai and Chennai on Monday.
With effect from 6 am on Monday, June 4, Petrol in Delhi now costs Rs 77.96 a litre, down from Rs 78.11, according to a price notification issued by state-owned oil firms. Diesel costs Rs 68.97 a litre in the national capital.
While petrol prices were cut for the sixth day in a row, diesel prices were lowered for five days in six. In six days, petrol prices have been lowered by 47 paise per litre in Delhi and Mumbai, 46 paise per litre in Kolkata and 49 paise per litre in Chennai, data from Indian Oil Corporation shows.
Diesel prices have come down by 34 paise per litre in Delhi and Kolkata, and 36 paise per litre in Mumbai and Chennai.
The recent reduction in fuel prices follows a consecutive 16-day hike in fuel prices across the country initiated by Oil Marketing Companies (OMCs) post Karnataka Assembly elections, which had led to a cumulative hike of Rs 3.80 per litre in petrol and Rs 3.38 per litre in diesel prices in Delhi.
Last month, petrol and diesel prices hit a record high due to rise in international crude oil cost. However, the crude prices witnessed a marginal cut earlier this week after Saudi Arabia and Russia announced that they were willing to lift supply curbs that had pushed crude prices to their highest since 2014. Last year, the organization of the petroleum exporting countries and Russia had decided to cut the supply to prop up the prices that had fallen to their lowest in more than a decade.
PETROL PRICE (IN RS. PER LITRE) DIESEL PRICE (IN RS. PER LITRE)
4-Jun 3-Jun 29-May 4-Jun 3-Jun 29-May
Delhi 77.96 78.35 78.43 68.97 69.25 69.31
Kolkata 80.6 80.98 81.06 71.52 71.8 71.86
Mumbai 85.77 86.16 86.24 73.43 73.73 73.79
Chennai 80.94 81.35 81.43 72.82 73.12 73.18