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Thursday, May 31, 2018

2018 Petrol Price REvision - Petrol price cut by 6 paise per litre, diesel by 5 paise Friday June 01,2018

Petrol, diesel prices cut marginally for third day in a row

Prices for petrol and diesel have fallen by 6 paise and 5 paise per litre respectively today.

The fuel price was slashed for the third day after it remained high for 16 consecutive days.

In Delhi, petrol now costs Rs 78.29 per litre, while diesel price has been revised to Rs 69.20 a litre.
Besides Delhi, the revised petrol prices in other metro cities are - Rs 80.92 in Kolkata, Rs 86.10 in Mumbai and Rs 81.28 in Chennai.

Meanwhile, the revised diesel price was Rs 71.75 in Kolkata, Rs 73.67 in Mumbai and 73.06 in Chennai.

Over the 16-day period, petrol prices rose by almost Rs 4 across the country while diesel rates went up by around Rs 3.3.

The 16 days of hike came after a mysterious 'freeze' in the daily revisions of fuel prices across the country.

Oil corporations stopped their usual practice of revising fuel prices daily on April 24 and only resumed it on May 14.

The companies offered no explanations for where fuel prices remained unchanged between April 24 and May 14. However, many linked the unofficial freeze to the Karnataka election.

Voting in Karnataka was held on May 12 -- just two days after, on May 14, oil companies reverted to the practice of daily revisions in fuel prices.

Prices had been going up since then and the Centre faced a lot of flak for allowing fuel to get more expensive by the day.

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