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Ahead of Diwali, petrol, diesel prices cut for 14th straight day; check November 3 rates here

News Nation Bureau | Edited By : Nabanita Chakorborty | Updated on: 03 Nov 2018, 08:53:03 AM
Ahead of Diwali, petrol, diesel prices cut for 14th straight day (File Photo)

New Delhi:

As Diwali is just round the corner, Delhiites woke up to a good news yet again on Saturday. Petrol and diesel prices were cut for the fourteenth consecutive day on softening international oil prices, providing some relief to consumers battered by two months of relentless rate hikes.

Petrol price was cut by 19 paise a litre and diesel by 11 paise, according to the price notification of state-owned oil firms. In Delhi, petrol now costs Rs 78.99 a litre and diesel is priced at Rs 73.53 per litre. In Mumbai, petrol is sold for Rs 84.49 per litre and diesel at Rs 77.06. Hence there is a price cut of Rs 0.19/litre and 0.12/litre in petrol and diesel respectively.

"Petrol and diesel prices in #Delhi are Rs 78.99 (decrease by Rs 0.19) and Rs 73.53 per litre (decrease by Rs 0.11), respectively. Petrol and diesel prices in #Mumbai are Rs 84.49 per litre (decrease by Rs 0.19) and Rs 77.06 per litre (decrease by Rs 0.12), respectively," the news agency ANI reported.

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Fuel prices have been declining since early October as oil companies factored in softening of international rates. State-run oil marketing companies Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise fuel prices with effect from 06:00 am on a daily basis.

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

In Mumbai, petrol had hit a peak of Rs 91.34 on October 4 and diesel was sold at a record high of Rs 80.10.

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First Published : 03 Nov 2018, 08:21:46 AM