The petrol and diesel price in Delhi dropped by Rs 0.22 per litre and Rs 0.21 litre (respectively) on Monday. The cut in fuel prices comes for the 19th consecutive day on November 6, 2018, bringing smiles on the faces of vehicle owners ahead of Diwali festival. Following the price cut, petrol and diesel are being retailed at Rs 78.65 per litre and Rs 73.25 per litre in Delhi respectively. On the other hand, the prices for petrol and diesel in Mumbai stand at Rs 84.15 per litre and Rs 76.75 per litre, respectively.
This is for the straight 19th day when the prices of petrol and diesel have been reduced in India. Over the period of 19 days, petrol and diesel prices are reduced by over Rs 4 per litre and Rs 2.5 per litre, respectively. The reduction in prices comes as a big relief for vehicle owners amid a significant rise across the country in October month.
On October 4, 2018, Union Finance Minister Arun Jaitely had announced a reduction of Rs 2.50 per litre on both petrol and diesel prices. After centre reduction, some of the states had also announced price reduction of Rs 2.50 per litre. The significant reduction in petrol and diesel prices is due to measures undertaken by Government of India. Moreover, the decline in international crude oil prices and the strengthening of the rupee against the US Dollar has also helped Oil Marketing Companies to pass on benefits to customers.