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Petrol, diesel prices were reduced across the country on Tuesday a day after the pause, according to a price notification by state-run oil companies. Petrol price was cut by 11 to 15 paise per litre, while diesel prices also decreased by 14 to 16 paise on the day.

This is the second cut in petrol prices in the last three days. 

The petrol and diesel prices were cut down by 15 paise each in Delhi. The petrol was being retailed at 101.49 per litre in Delhi, while diesel was sold at 88.92 per litre today.

In Mumbai, the petrol price was decreased to retail the fuel at 107.52, 14 paise down from the previous price of 107. 66. Mumbai, on May 29, became the first metro in the country where petrol was being sold for more than 100 per litre.

Fuel rates vary across the states due to value-added tax (VAT).

India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.

 

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