Consequently, there should have been a commensurate reduction in the retail prices of petrol and diesel.
In other words, the prices of petrol and diesel should have been cut by Rs 19.34/litre and Rs 18.20/litre respectively, and retailed at Rs 67.84/litre and Rs 61.37/litre, he said.
According to him, on November 1, 2017, petrol was retailed at Rs 71.65/litre and diesel at Rs 60.79/litre.
Currently, petrol and diesel are being sold at Rs 80.90/litre and Rs 76.72/litre, respectively.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)