Dip in fuel prices for 12th straight day

New Delhi: Petrol prices have now climbed down from Rs 80 mark and is retailing at Rs 70.75 per litre in the national capital.Fuel prices are witnessing a dip from the past 11 days. In Mumbai, petrol now costs Rs 85.24, Bengaluru Rs 80.37, Hyderabad Rs 84.54, Chennai Rs 82.86 and  Kolkata Rs 81.63.

While Diesel is priced at Rs 73.85 in Delhi, Rs 77.40 in Mumbai, Rs 80.33 in Hyderabad, Rs 74.23 in Bengaluru, Rs 78.08 in Chennai and Rs 75.70 in Kolkata.Petrol prices had hit an all-time high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. 

The decline, since then, has been on account of several factors including a reduction in excise duty of Rs 1.5, drop in sales tax or VAT by Rs 2.5 in several states, state-run oil retailers bearing a loss of Re 1 on instructions from the Government and a fall in global crude oil prices.(UNI)