11 day, 11 cuts: Petrol prices fall to Rs 80.05 in Delhi, Rs 85.5 in Mumbai

For the eleventh day in a row, fuel prices were cut across the country on Sunday. While petrol prices have come down by around 40 paise, diesel rates have been cut by 33 paise in top cities.

In Delhi, petrol now costs Rs 80.05 per litre, down 40 paise from Saturday's price of Rs 80.45. With a similar cut, petrol is being retailed at Rs 85.54 per litre in Mumbai. In Kolkata and Chennai, the fuel costs Rs 81.92 and Rs 83.18, respectively.

In the last 11 days, petrol prices have come down by Rs 2.78 per litre in Delhi.

In tandem with the petrol prices, diesel rates have also come down across the country.

Today, diesel is being retailed at Rs 74.05 in Delhi, Rs 77.61 in Mumbai, Rs 75.90 in Kolkata and Rs 78.29 in Chennai.

The reductions are a result of falling global crude oil prices and the rupee's appreciation against the US dollar and that prices were expected to soften further in the coming days.

Before the fuel prices started the decline and government announced a cut in taxes, petrol had touched a record high of Rs 84 per litre in Delhi. Diesel prices recorded a high of Rs 75.45 per litre.

On October 4, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise by another Re 1 a litre by reducing their margins.