The prices of petrol and diesel dropped for the seventh consecutive day on Tuesday. While the price of petrol was cut by 13 paise, the price of diesel dropped by 9 paise.
The price of a litre of petrol in Delhi came down to Rs 77.83 on Tuesday from Rs 77.96 the previous day, according to Indian Oil Corporation. Petrol was priced at Rs 80.47 in Kolkata, Rs 85.65 in Mumbai and Rs 80.80 in Chennai on Tuesday.
A litre of diesel was priced at Rs 68.88 in Delhi, Rs 71.43 in Kolkata, Rs 73.33 in Mumbai and Rs 72.72 in Chennai on Tuesday.
After fuel prices dropped by 1 paisa on May 30, they have continued to fall. Since June 1, the price of petrol in Delhi has dropped by 46 paise and that of diesel by 32 paise.
State-run oil companies had resumed the dynamic pricing mechanism on May 14 after prices were frozen for 19 days between April 24 and May 13, when campaigning was on for the Karnataka Assembly elections. Oil companies are estimated to have lost about Rs 500 crore because of that price freeze, PTI reported.