Fuel prices were lowered for a 14th consecutive day on Tuesday. While petrol prices fell by 15 paise in the four metro cities, diesel prices were down by 10-11 paise.
According to the prices announced by Indian Oil Corp (IOC), petrol was being sold at Rs 76.43 per litre in Delhi, down from Rs 76.58 on Monday. Diesel prices in the national capital were down by 10 paise to Rs 67.85 a litre.
In Mumbai, petrol now costs Rs 84.26 a litre and diesel Rs 72.24 a litre. On Monday, petrol and diesel in Mumbai were priced at Rs 84.41 and Rs 72.35 a litre, respectively.
The price of petrol in other major cities are Rs 79.10 in Kolkata and Rs 79.33 in Chennai. The revised diesel price stands at Rs 70.40 in Kolkata and Rs 71.62 in Chennai.
With the latest reduction, petrol prices have come down by 1.98 paise in 14 days. On 29 May, petrol prices had touched a peak of Rs 78.43 a litre in Delhi and Rs 86.24 a litre in Mumbai.
Even as the fuel prices have seen a downward trend for 14 days, the relief for consumers has been slow to come by.
As of Monday, the pace of decline had been less than half the rate of surge. In percentage terms, between May 30 and June 11, petrol prices declined by 2.35 per cent in Delhi, compared to a 5.5 per cent increase in the previous 16 days.
Top block shows petrol prices while lower block shows diesel cost