After seven straight days of stability, petrol prices dropped by 10 to fifteen paise across the country on September 1. The diesel price also decreased by 14 to fifteen paise on the primary day of the month.
In Delhi, the petrol and diesel prices were cut by 15 paise each. With this revision, the petrol was sold at Rs 101.34 a litre, while the diesel was retailed at Rs 88.77 per litre within the capital .
In Mumbai, fuel prices witnessed an identical trend. The petrol price was declined by 13 paise to retail a litre of the fuel at Rs 107.39. The financial hub, on May 29, became the primary metro within the country where petrol was being sold for quite Rs 100 per litre.
Diesel price also witnessed a drop of 15 paise and sold at Rs 96.33 per litre in Maharashtra’s capital on the day.
The petrol and diesel prices were declined by 10 and 14 paise respectively in Kolkata. the worth cut took the speed of a litre of petrol to Rs 101.72 which of diesel Rs 91.84 within the city.
Chennai also saw a price cutting of 12 paise in petrol prices and 14 paise in diesel. This revised the costs of the 2 respective fuels to Rs 99.08 per litre and Rs 99.38 per litre in Tamil Nadu’s capital.
The price cut follows international oil prices tumbling to their lowest level since May after the US Federal Reserve System signalled it had been set to start out tapering asset purchases within months, hurting commodities and lifting the dollar.
India is near 85 percent hooked in to imports to satisfy its oil needs then benchmarks local fuel rates to international oil prices.
Petrol and diesel price was last hiked on July 17. before that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17.
Diesel rates had gone up by Rs 9.14 during this era . the worth hike during this era pushed petrol prices above Rs 100-a-litre-mark in additional than half the country while diesel crossed that level in a minimum of three states