Fuel prices continue to tumble

Fuel prices continue to tumble

The LIOC said it has reduced the prices of Lanka Auto Diesel (LAD) by Rs. 11 per liter and Lanka Petrol 92 (LP92) by Rs. 2 per liter from midnight today.

In Delhi, the prices of petrol and diesel were Rs 78.99 a litre and Rs 73.53 a litre respectively, according to data available on Indian Oil Corporation website.

Meanwhile, in Mumbai, petrol and diesel are retailed at Rs 84.49 per litre (decrease by 19 paise) and Rs 77.06 per litre (decrease by 12 paise) respectively.

Drivers lost out as fuel retailers refused to cut petrol prices last month despite a drop in wholesale costs, a motoring firm has claimed. While, petrol price decreased by 0.19 paisa in both the cities, the diesel price witnessed a fall of 0.11 paisa and 0.12 paisa in Delhi and Mumbai, respectively. Following the Centre's request, many states like Gujarat, Rajasthan, Maharashtra, Uttar Pradesh, Haryana announced a cut in fuel prices.

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The CPC fuel price reduction was implemented with effect from midnight yesterday.

This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel.

Before the October 5 price cut, petrol in Delhi had hit an all-time high of Rs 84 per litre while diesel was at record Rs 75.45. Due to that petrol and diesel are now cheaper in Noida compared to Delhi.

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