Fuel prices continue to dip

Prices of petrol and diesel continued to drop on Friday, with petrol being sold at Rs 77.10 per litre (decrease by Rs 0.18) and diesel is at Rs 71.93 per litre (decrease by Rs 0.16) in Delhi.

In Mumbai, the prices of petrol and diesel are Rs 82.62 per litre (decrease by Rs 0.18) and Rs 75.36 per litre (decrease by Rs 0.17) respectively.

The fuel prices have been witnessing a consistent dip since the last few weeks. The rates have been on the decline in October as the government cut excise duty by Rs 1.50 a litre and asked oil firms to subsidise fuel by another Re 1 a litre, which many states matched with equivalent cuts in sales tax (VAT), and international oil prices softened.

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