Petrol prices cut for first time in over a month; diesel down again
Petrol and diesel prices were cut by 20 paise per litre each on Sunday — the first reduction in petrol rate in over a month, and the fourth in case of diesel in less than a week. Petrol price in Delhi was cut to Rs 101.64 a litre and diesel to Rs 89.07 per litre, according to a price notification of state-run oil companies.
The reduction came as international oil prices tumbled to their lowest level since May, after the US Federal Reserve signalled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.
The price cut in diesel is the fourth since August 18, when the reduction cycle began. All four reductions have been of 20 paise per litre each.
