Published: Mon, November 05, 2018
Economy | By

Fuel prices continue to tumble on Saturday

Fuel prices continue to tumble on Saturday

In Delhi, petrol now costs Rs 78.99 a litre, while diesel is sold at Rs 73.53, according to a price notification issued by state-owned oil firms. Just like in the capital Delhi, the price of petrol has declined by 19 paise per liter in the country's financial capital Mumbai, which has now cost Rs 84.49 per liter.

The LIOC said it has reduced the prices of Lanka Auto Diesel (LAD) by Rs. 11 per liter and Lanka Petrol 92 (LP92) by Rs. 2 per liter from midnight today. With a drop of 0.19 paisa in Delhi and 0.18 paisa in Mumbai, petrol was priced at Rs 79.18 per litre and Rs 84.68 per litre in both the cities, respectively. Hence there is a price cut of Rs 0.19/litre and 0.12/litre in petrol and diesel respectively. In Kolkata, the petrol was sold at Rs 80.89 while diesel was retailing at Rs 75.39.

However, the Delhi government had not reduced Value-Added Tax on petrol and diesel. "Although, worldwide oil prices came down during the current month but due to substantial depreciation of Sri Lankan rupee, there is no significant reduction in cost of petrol and diesel", their statement said.

Meanwhile, the Ministry of Finance and Economic Affairs yesterday (01) announced that the CPC fuel prices would be brought down. Earlier, fuel prices hit record high before coming down gradually.

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