After 16-days, Petrol and diesel prices finally drop : Check out rates here city-wise

After 16 days of continuous hike, fuel prices on Wednesday finally saw a slight drop. The petrol prices went down by 1 paise in Delhi & 59 paise in Mumbai.

The revised petrol prices in metropolitan cities are- Delhi: Rs 77.83 per litre; Mumbai: 85.65; Kolkata: 80.47 and Chennai: 80.80.

Diesel prices went down by 1 paise in Delhi & 59 paise in Mumbai. Petrol at Rs 77.83/litre in Delhi & Rs 85.65/litre in Mumbai. Diesel at Rs 68.75/litre in Delhi & Rs 73.20/litre in Mumbai.

In the past 16 days, petrol prices in four metro cities - Delhi, Mumbai, Chennai, Kolkata - have increased by over Rs 3 per litre.

The reason behind the increase in petrol prices in the country is the rise in the crude oil cost and high excise duty levied on the particular fuel type.

Petrol and diesel prices in India are linked to Singapore gasoline prices and Arab Gulf diesel prices , which mostly track movements in crude oil prices.

Earlier, Union Petroleum and Natural Gas Minister Dharmendra Pradhan assured the public that the government will soon take out a solution to tackle the situation.

In April, Pradhan had said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.