With global oil market stable for the past few days, petrol and diesel prices remain unchanged on Sunday.
Accordingly, in Delhi, petrol is priced at Rs 80.43 a litre and diesel at Rs 73.56. In Mumbai, the price of petrol is Rs 87.19 a litre and that of diesel is Rs 80.11. In Kolkata, petrol is priced at Rs 82.10 per litre, diesel was retailing at Rs 77.04 per litre. In Chennai, petrol price stood at Rs 83.63 a litre, while diesel was retailing at Rs 78.86 per litre.
On Friday, diesel prices fell by a sharp Rs 8.38 a litre following Delhi government's decision to reduce VAT on the product from 30 per cent to 16.75 p er cent. The price cut has again made diesel cheaper than petrol in the city after more than a month. In fact, diesel is cheaper than petrol in Delhi by the widest margin among all metros now. Delhi was the only major city in the country where diesel prices were higher than petrol. Diesel prices first rose above petrol's in Delhi last month, much to the discomfort of the transport sector and the fuel dealers.
Oil companies resumed the dynamic pricing system for daily revision of the two auto fuels from June 7 after keeping the price unchanged for around 82 days during the lockdown. Since then, while petrol prices have risen by Rs 9.17 a litre, diesel prices have risen by Rs 12.55 a litre in Delhi.
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