Fuel prices go down; petrol sold at Rs 70.94/ litre in Delhi, diesel at Rs 65.71/ litre

New Delhi: The fuel prices on Friday went down with petrol being sold at Rs 70.94 per litre and diesel at Rs 65.71 per litre in the national capital. On Saturday, the price of petrol in Delhi was Rs 71.09 per litre while diesel was at Rs 65.81 per litre.

In Mumbai, the prices of petrol and diesel today are Rs 76.57 per litre and Rs 68.81 per litre respectively.

While petrol is being sold at Rs 73.04 per litre and diesel at Rs 67.49 per litre in Kolkata, the prices of petrol and diesel in Chennai are Rs 73.64 per litre and Rs 69.41 per litre respectively.

There was, however, a marginal rise in fuel prices last week which had come amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future. 

Prices of fuel had started to climb from August 16 and they had touched peak in India on October 4.

Between August 16 and October 4, the petrol price was hiked by Rs 6.86 per litre and diesel by Rs 6.73. On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins.

The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of the country's requirement is met through imports.

(With inputs from agencies)