Further reduction in fuel prices on Friday with petrol seeing a 25 paise cut per litre while diesel registered a marginal fall of 7 paise in the capital.
A litre of petrol was at Rs 80.85 in Delhi while diesel was at Rs 74.73 here. In Mumbai, petrol was at Rs 86.33 per litre while diesel was at Rs 78.33.
The current decline in fuel prices can be attributed to Prime Minister Narendra Modi’s recent meeting with the top executives of global and Indian oil and gas companies to discuss the global scenario in the wake of US President Donald Trump’s warning of slapping sanctions on those who buy oil from Iran.
In a bid to ease the crunch caused by soaring fuel prices, Finance Minister Arun Jaitley, announced on October 4, a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre.