 "After 13 straight cuts, petrol, diesel prices unchanged across cities")
After 13 straight cuts, fuel prices were kept unchanged on Wednesday. Petrol and diesel continue to cost Rs 79.55 and Rs 73.78 per litre, respectively, in Delhi.
As petrol prices have remained stagnant, the fuel's rate remains at Rs 85.04 in Mumbai, Rs 81.43 in Kolkata and Rs 82.65 in Chennai.
Diesel prices in the four metro cities today are as following:
Delhi - Rs 73.78
Mumbai - Rs77.32
Kolkata - Rs 75.63
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Chennai - Rs 78.00
In a relief for commuters, petrol and diesel prices were reduced daily in the last 13 days. Overall, the petrol price in Delhi came down by Rs 3.28 per litre and diesel price saw a reduction of Rs 1.84.
The relief followed unprecedented hikes in fuel prices across the country. On October 4, petrol and diesel touched a record high of Rs 84 and Rs 75.45 per litre.
On that day, 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.
However, the breather didn't prove to be significant as petrol and diesel prices continued to rise on the back of rising international oil prices.
The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of the country's requirement is met through imports.
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