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Petrol, diesel prices stay unchanged on Diwali

IANS  |  New Delhi 

Following five consecutive days of cuts, state-run companies kept prices of key domestic transport fuels -- petrol and diesel -- unchanged on Wednesday, on the festival of

According to the data, petrol was priced at Rs 78.42 per litre in the national capital on Wednesday, which is its lowest level in the last over six weeks.

Across the other major metros, petrol was priced at Rs 83.92 per litre in Mumbai, Rs 80.33 in and Rs 81.46 in on Wednesday.

As per the country's pricing mechanism, under the daily dynamic pricing regime, domestic fuel prices depend on international fuel prices on a 15-day average, besides the value of the rupee.

Prices vary from region to region due to local taxes as the product is excluded from the GST regime. has the lowest tax rate among the four metros.

In tandem with petrol, the cost of diesel remained unchanged on Wednesday across the four metros.

The price of diesel in was at Rs 76.57 per litre.

Similarly, prices of diesel in Delhi, and were Rs 73.07, Rs 74.93 and Rs 77.24 a litre, respectively.

Fuel prices have been reducing on the back of multiple factors such as and a recovery in the rupee against the US dollar.

Last month, the Centre announced a cut in excise duty by Rs 1.50 a litre.

Additionally, the companies had been mandated to reduce the prices of petrol and diesel by Re 1 a litre.

--IANS

bc/vm

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 19:18 IST
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