Fuel prices continue to fall; petrol at Rs 68.84 in Delhi and Rs 74.47 in Mumbai

WION Web Team New Delhi, Delhi, India Dec 31, 2018, 07.03 AM(IST)

Representative Image. Photograph:( Zee News Network )

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Diesel prices were revised to Rs 62.86 per litre in Delhi and Rs 65.76 per litre in Mumbai.

Fuel prices in the country continued to witness a slump on Monday with petrol selling at Rs 68.84 per litre in the national capital and for Rs 74.47 per litre in Mumbai.

On Sunday, petrol prices were recorded at Rs 69.04 in Delhi, Rs 74.67 in Mumbai, Rs 71.15 in Kolkata and Rs 71.62 in Chennai.

Meanwhile, the prices of diesel were revised to Rs 62.86 per litre in Delhi and to Rs 65.76 per litre in Mumbai. Diesel was selling at Rs 63.09 per litre in Delhi on December 30, while the same was priced at Rs 66.01 in Mumbai yesterday. 

After reaching a record high of Rs 84 on October 4 in Delhi, petrol recorded its lowest price in the national capital in December this financial year. 

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Fuel rates across India have been on a falling trend due to the fall in global crude oil prices.

What also contributed to this slump is a cut of Rs 1.5 in excise duty and a Rs 2.5 cut in sales tax or VAT in several states. Oil retailers were also asked to bear a loss of Rs 1 on every litre of fuel sold in India by the state government.

(With inputs from agencies)