Petrol, diesel prices continue to decline

New Delhi, Oct 27: Petrol and diesel prices in Delhi are Rs 80.45 per litre (decrease by Rs 0.40) and Rs 74.38 per litre (decrease by Rs 0.35), respectively on Thursday.

In Mumbai, Petrol and diesel prices are Rs 85.93 per litre (decrease by Rs 0.40) and Rs 77.96 per litre (decrease by Rs 0.37), respectively.

Petrol price has been cut by ₹1.98 per litre and diesel by ₹0.96 a litre in the last eight days on the back of softer international rates, an official statement said on Friday.

The rates are off their record high of ₹84 per litre for petrol and ₹75.45 a litre for diesel touched on October 4. The government decided to cut excise duty on petrol and diesel by ₹1.50 per litre each and asked state-owned fuel retailers to subsidise by another ₹1 a litre by reducing their margins."

As the international oil prices continued to rise, price of petrol and diesel in Delhi increased to ₹82.83 per litre and ₹75.69 per litre. (But) since last eight days, international oil prices have been falling and rupee has also appreciated," the statement said.

The twin factors have brought down fuel prices to a six-week low.

(With PTI inputs)