Prices of both petrol and diesel witnessed a dip on Saturday. After a reduction of 39 paise, the petrol price in the national capital settled at Rs 81.99 per litre. In Mumbai too, the petrol price was slashed by 38 paise. It is now being retailed at Rs 87.46 per litre. The diesel price mark Rs 75.36 per litre in Delhi after a plunge of 12 paise and in Mumbai the price is Rs 79.00 per litre - after decrease of 13 paise. The Centre had recently cut the excise duty by Rs 1.50 per litre and asked PSU oil firms to subsidise fuel by Re 1. Thereafter other states followed suit and announced a cut in fuel prices.