The Indian Oil Corporation on Tuesday decreased fuel prices on Monday. The cost of petrol dropped 22 paise to Rs 78.56 and diesel 20 paise to Rs 73.16 in Delhi. In Mumbai, petrol now costs Rs 84.06 per litre and diesel Rs 76.67.
In Kolkata, a litre of petrol now costs Rs 80.47 and diesel Rs 75.02. Petrol is priced at Rs 81.61 per litre and diesel at Rs 77.34 in Chennai.
Fuel prices have been on a decline over the last 19 days following cues from international oil rates. The price of petrol has been reduced by an average of Rs 4 per litre across the country and diesel by over Rs 2.50 over the last 19 days, The Financial Express reported.
The development comes on day that the United States-imposed sanctions on Iran come into force. Iran is India’s third-largest oil supplier after Iraq and Saudi Arabia.
On October 4, the Centre had decided to intervene in the market and reduce petrol and diesel prices by Rs 2.50 each.