Did you notice your petrol, diesel prices have come down by Rs 5 and Rs 3 per litre in one month

Key Highlights:

• Petrol prices trim down highest in Mumbai and Chennai
• Kolkata sees lowest revision in petrol and diesel prices
• Daily revision in petrol and diesel prices have commenced from June 16, 2017

It has been one month now for your petrol and diesel prices to change on a daily basis. Did you noticed that your petrol and diesel price have come down by at least Rs 5 per litre and Rs 3 per litre, respectively in these 30 days? 

Dharmendra Pradhan, Minister of Petroleum of Natural Gas on June 16, tweeted, “After the complete transformation of the LPG sector, dynamic fuel pricing is the first major reform of recent times in Fuel Retailing Sector.”

Pradhan added, “With this historic step towards transparency and customer interest, the Indian Oil & Gas industry has joined the elite league of countries like USA and Australia wherein fuel prices are revised on a daily basis.”

State-owned Indian Oil since then, has been providing daily update on petrol and diesel prices for metro cities like New Delhi, Kolkata, Mumbai and Chennai.

The data shows that Mumbai has received highest cut in petrol prices by nearly Rs 5 per litre, followed by Chennai by Rs 3.36 per litre, New Delhi by Rs 2.80 per litre and Kolkata by Rs 1.97 per litre.

Not only this, Mumbai also saw highest revision in diesel prices. Prices have come down in the city by Rs 3.20 per litre. While other cities like New Delhi and Chennai saw a fall of Rs 1.01 per litre and Rs 1.30 per litre, respectively. Kolkata saw lowest revision by just 61 paisa in diesel prices so far.

In percentage terms, petrol prices have come down by 6.36% in Mumbai, 4.80% in Chennai, 4.18% in New Delhi and 2.83% in Kolkata.

While diesel prices were have decreased by 5.18% in Mumbai, 2.19% in Chennai, 1.80% in New Delhi and 1.04% in Kolkata.

On June 16, 2017, Indian Oil lowered prices of petrol by Rs 1.12 per litre excluding state levies, while diesel prices were brought down by Rs 1.24 per litre excluding state levies. 

Since then, the Indian Oil kept revising down petrol and diesel prices in the range of  1 paisa to 20 paisa daily. 

In the first 11 days of daily revision, petrol and diesel prices were brought down by almost Rs 3 per litre and Rs 2.4 per litre, respectively. 

Also Read: Did you notice your petrol, diesel prices have come down by over Rs 4 in the past 10 days?

Oil marketing companies are also looking to revise CNG prices on a daily basis. 

Compressed Natural Gas (CNG) are fuel that can be used as an alternative to petrol, diesel and propane/ LPG. CNG combustion produces fewer undesirable gases than the fuels mentioned above.

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