Petrol, diesel prices fall for fifth consecutive day; check today's price

Prices of petrol and diesel fell for the fifth straight day across the country on October 22, bringing some respite to consumers who have been saddled with higher fuel expenses for the past couple of months.

The price of petrol price fell by 30 paise a litre and that of diesel fell by 28 paise a litre in Mumbai.

The revised prices of the two fuels in the city stood at Rs 86.91 a litre and Rs 78.54 a litre, respectively, according to Indian Oil Corporation (IOC).

In Delhi, petrol was being sold at Rs 81.44 per litre and diesel was retailing at Rs 74.92 per litre, down 30 paise and 27 paise overnight, respectively.

The fall in prices was steeper in Chennai. Petrol and diesel prices fell 32 paise a litre and 29 paise a litre, respectively. Petrol was retailing at Rs 84.64 per litre and while diesel was retailing at Rs 79.22 per litre.

In Kolkata, price of petrol fell 29 paise to Rs 83.29 per litre, while that of diesel fell 27 paise to Rs 76.77 per litre.

Prices of petrol and diesel fell by a minimum of Rs 2.50 per litre across the country on October 5, when the government cut excise duty on the two fuels by Rs 1.50 a litre and asked oil PSUs to subsidise them by another Re 1 a litre.

The government further appealed the state governments to cut value added tax (VAT) on fuels. But many states, including Delhi, refused to cut VAT on petrol and diesel.

To protest the Delhi government's decision to refuse cutting VAT, the Delhi Petrol Dealers Association (DPDA) called a strike on October 22, shutting down around 400 petrol pumps, along with linked CNG dispensing units, in the national capital.

Meanwhile, Odisha on October 22 became the first state in the country to sell diesel at a higher price than petrol.

A litre of diesel cost 13 paise more than a litre of petrol in Bhubaneswar, with diesel priced at Rs 80.40 per litre and petrol priced at Rs 80.27 per litre.