Petrol price cut by 6 paisa, diesel by 5 paisa
Petrol and diesel saw price cuts for the third consecutive day today, with oil firms cutting rates by 6 paisa and 5 paisa respectively. The reductions follow softening of international oil rates and the rupee gaining against the US dollar. Petrol in Delhi now costs Rs. 78.29/litre, down from Rs. 78.35. Diesel rates have been cut to Rs 69.20/litre from Rs. 69.25.
16 consecutive increases since May 14
Petrol price was yesterday cut by 7 paisa and diesel by 5 paisa. Wednesday, rates were cut by 1 paisa each. These reductions followed rates touching an all-time high of Rs. 78.43 for petrol and Rs. 69.31 for diesel in Delhi on May 29. In the 16 consecutive increases since May 14, petrol price was hiked by Rs. 3.8 and diesel by Rs. 3.38.
Third reduction after the hiatus before Karnataka elections
This is the third reduction in rates coming after 16 days of relentless price hikes that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls.
