Mumbai, November 15: Fuel rates continue to fall in India. The rates have last increased on October 16, and since then daily prices have either remained static or have decreased. The price of petrol in Mumbai today is at Rs 82.80 per litre (decrease by Rs 0.14) and diesel at Rs 75.53 (decrease by Rs 0.11), respectively. In Delhi on the other hand, petrol is at Rs 77.28 per litre (decrease by Rs 0.15) and diesel at Rs 72.09 per litre. Excise Duty Cut on Petrol, Diesel to Cost Rs 10,500 Crore, Arun Jaitley Asks States to Reduce VAT on Fuel.
The price of petrol in Kolkata is at Rs 79.21 per litre and diesel at Rs 73.95 per litre. In Chennai, a litre of petrol is at Rs 80.26 per litre and diesel at Rs 76.19 per litre.
According to a Bloomberg report, International crude oil prices declined about 20 percent from their October high. Brent crude oil slipped to its lowest since early April, down more than 18 percent since reaching a four-year high at the beginning of October. Some states also reduced VAT following the central government's price cut which made the fuel prices go down by Rs 5 in some of the states.