Fuel prices were cut today, a day ahead of Dussehra despite a surge in global crude oil prices and a fall in the value of the rupee against the US dollar.
A litre of petrol was sold for Rs. 82.62 in New Delhi, Rs. 84.44 in Kolkata, Rs. 88.08 in Mumbai, and Rs. 85.88 in Chennai.
Diesel was sold at the rate of Rs. 75.58/litre in New Delhi, Rs. 77.43/litre in Kolkata, Rs. 79.24/litre in Mumbai, and Rs. 79.93/litre in Chennai. The fuel rates came into effect from 6 am today.
On Wednesday, petrol was sold at the rate of Rs. 82.83/litre in New Delhi, Rs. 84.65/litre in Kolkata, Rs. 88.29/litre in Mumbai, and 86.10/litre in Chennai. A litre of diesel was sold for Rs. 75.69 in New Delhi, Rs. 77.54 in Kolkata, Rs. 79.35 in Mumbai, and Rs. 80.04 in Chennai.
Petrol rates were slashed by 21 paise in New Delhi, Kolkata and Mumbai and by 22 paise in Chennai. Diesel rates were reduced by 11 paise across the four metro cities.
The fuel rate cuts came even as global oil prices inched up amid the ongoing tensions over the death of a prominent Saudi journalist.
US West Texas Intermediate crude for October delivery was up 12 cents, or 0.2 per cent, at $69.87 a barrel by 0413 GMT or 9:43 am IST, after falling 3 per cent in the previous session to settle below $70 for the first time in a month, according to a report.
On Wednesday, the rupee closed 13 paise lower at 73.61 against the US dollar Wednesday.
Petrol and diesel prices were last slashed on October 5, a day after the central government announced a cut of Rs. 2.5 per litre on both fuels. The Centre reduced the excise duty on fuels by Rs. 1.5 per litre.
State-run oil-marketing companies were asked to absorb a cut of Re 1 per litre. Many states then followed suit to cut excise duty of Rs. 2.5 on petrol and diesel rates.