Oil marketing companies cut the prices of petrol and diesel on Tuesday, after holding them steady on Monday.
While petrol prices cropped by 14-15 paise per litre, diesel became cheaper by 15-16 paise for a litre. This was the second reduction in fuel prices this week. On August 22, petrol price dropped 15 to 20 paise per litre across the country after 35 days.
As per the latest revisions, a litre of petrol costs Rs 101.49 in the National Capital, while a litre of diesel will cost consumers Rs 88.92.
In Mumbai, petrol can be bought at Rs 107.52 per litre. Diesel retailed at Rs 96.48 per litre. On May 29, the financial hub became the first metro in the country where the price of petrol crossed the Rs 100 per litre-mark.
The auto-fuel is priced at Rs 99.20 for a litre in Chennai. The DMK government in Tamil Nadu has recently announced a tax cut of Rs 3 on petrol per litre. Diesel got cheaper by 14 paise, bringing down prices to Rs 93.52 per litre.
The petrol and diesel saw price cut of 11 and 15 paise, respectively in Kolkata. With the revision, a litre of petrol was sold at Rs 101.82 and diesel Rs 91.98 in West Bengal’s capital.
The price cut follows international oil prices falling to their lowest level since May after the US Federal Reserve hinted it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.
The latest price cut in diesel is the fifth since August 18, when the reduction cycle began.
Before July, prices rose everyday for 41 days, this financial year, taking petrol prices up by Rs 11.44 per litre in Delhi and diesel by Rs 8.74 per litre.