New Delhi: Petrol and diesel prices were reduced for the second consecutive day on Thursday as cooled international oil prices fell on the prospect of a rapid recovery in consumption clouded by the second wave COVID-19 incidents.
The price of petrol has been reduced by 21 paise per liter and diesel by 20 paise, according to a price announcement from state-owned fuel dealers.
Gasoline now costs R90.78 per liter in Delhi and a liter of diesel is 81.10.
Rates have been reduced across the country and vary from state to state depending on the local tax event (VAT).
Prices fell by 18 liters per liter of petrol and 17 diesel on Wednesday.
Despite the freezing point, prices have risen by a record 21.58 million liters per petrol since the government increased excise taxes in March last year. The price of diesel increased by 19.18 Rl per liter.
Prices that reached a record high last month, including the breach of Rs 100 in some places in Rajasthan, Maharasthra and Madhya Pradesh, have been frozen since late February when elections to five states, including West Bengal, Assam, Tamil Nadu and Kerala, has been announced.
In Mumbai, the petrol price was reduced from 97.40 Rs to 97.19 Rl per liter on Thursday, while diesel tariffs were reduced to 88.20 Rs from 88.42 Rs, the price notice showed.
The rate cut follows international oil prices, which have fallen to their lowest level since the beginning of February as the second wave of COVID-19 infection clouded the prospects for a rapid recovery in consumption.
Source: Telangana Today