For a fifth consecutive day, the oil marketing companies (OMCs) cut petrol prices on Monday. According to the rate chart, petrol price in Delhi today is at Rs. 75.69 per litre. In Mumbai, petrol price is Rs. 83.30 per litre. In Chennai and Kolkata, petrol prices are Rs. 78.55 per litre and Rs. 78.37 per litre respectively. Diesel prices are also dropped today by 6 paise per litre in Delhi and Kolkata, by 10 paise in Mumbai and by 7 paise in Chennai, as mentioned by on Indian Oil Corporation (IOC) website.
Petrol Prices (Metro)
Diesel prices now stands at Rs. 67.48 per litre in Delhi. Diesel price in Mumbai is Rs. 71.66 per litre. Diesel price in Kolkata is Rs. 70.03 per litre. In Chennai it is Rs. 71.22 per litre. The new listed rates are applicable from 6:00 am on 25th June 2018.
Diesel Prices (Metro)
Petrol rates went down in other states as well.
Petrol Prices (other cities)
In past few days, petrol, diesel prices have continuously been slashed, although with a nominal decline on a daily basis. On Sunday, petrol prices fell between 14 to 17 paise in metro cities. Similarly, the diesel prices fell by 7 paise in Delhi and Kolkata, by 11 paise in Mumbai, and by 7 paise in Chennai on Sunday.
Petrol prices in Delhi are the lowest among all metro cities due to lower sales tax or VAT.
Fuel prices in the country are largely determined by global crude oil prices, which have been on a downward trajectory for nearly a month now.
The peak price for diesel during previous UPA government was hit on May 13, 2014, when rates touched Rs. 56.71 a litre, a PTI report said. The government had deregulated or freed petrol pricing from its control in June 2010 and diesel in October 2014. It allowed revision of prices on a daily basis since mid-June last year to reflect changes in cost instantly. The government at the centre had raised excise duty on petrol by Rs. 11.77 a litre and that on diesel by Rs. 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs. 2 a litre, the report further said.