Fuel prices resume decline: Petrol falls below Rs 85-mark in Mumbai

On Wednesday, petrol price was unchanged at Rs 79.55 in Delhi. The halt in decline of petrol price came after 13 straight cuts

Petrol prices continued to fall on Thursday after remaining unchanged for a day on Wednesday. Petrol now costs Rs 79.37 per litre in Delhi, 18 paise down from Wednesday's price of Rs 79.55.

With the latest revision, petrol is being retailed at Rs 84.86 in Mumbai, Rs 82.46 in Chennai and Rs 81.25 in Kolkata.

However, diesel prices remained unchanged for the second consecutive day on Thursday.

Diesel continues to be sold at Rs 73.78 in Delhi, Rs 77.32 in Mumbai, Rs 75.63 in Kolkata and Rs 78 in Chennai.

Before remaining constant on Wednesday, petrol prices witnessed 13 straight cuts. Overall, in the last 15 days, petrol price in Delhi came down by Rs 3.28 per litre, while the diesel price saw a reduction of Rs 1.84.

The relief came after petrol and diesel prices soared to record high levels across the country. On October 4, petrol had surged to a record high of Rs 84 and diesel had gone up to Rs 75.45.

Even as petrol and diesel prices are declining, the cost of LPG gas has continued to surge.

From Thursday, price of non-subsidised LPG cooking gas has gone up by Rs 60 per cylinder in New Delhi and that of subsidised one by a marginal Rs 2.94.

Effectively, the price on a subsidised cylinder will increase to Rs 505.34 from November 1 from Rs 502.40 per cylinder in October.

  

According to the Indian Oil Corporation, the increase in prices of non-subsidised LPG cylinder is mainly due to changes in international prices and foreign exchange fluctuations.