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Fuel prices continue to drop, petrol at Rs 79.55 per litre in Delhi

File photo. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Oct 30, 2018, 07.16 AM (IST)

Fuel prices in the national capital dropped for the thirteenth consecutive day on Tuesday as petrol prices stood at Rs 79.55 per litre, down by Rs 0.20 paise, and diesel prices at Rs. 73.73, down by Rs 0.07 paise.

In Mumbai, petrol and diesel prices today were recorded at Rs 85.04 per litre, down by Rs 0.20, and Rs 77.32 per litre, down by Rs 0.08, respectively.

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Before fuel rates started falling on October 18, petrol and diesel prices had touched unprecedented levels across the country. While petrol touched a record high of Rs 84 per litre, diesel prices went up to Rs 75.45 a litre in Delhi on October 4.

The fuel rate in the country is revised every single day based on global oil prices. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise the prices with effect from 6 am on a daily basis. 

The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly. 

After crossing US $86 per barrel, Brent crude oil prices have eased. Last week, Brent crude oil came down below $76 per barrel. 

According to Bloomberg, Brent crude was selling at US $77.58 per barrel on Monday.