After six days of continuous rise, petrol prices reduce by 8 paise in Delhi, Mumbai

After a consistent rise for six consecutive days, the prices of petrol on Wednesday witnessed a little decline.

While petrol prices were reduced by 0.8 paise in Delhi and Mumbai, diesel saw an increase of around 12 paise.

The prices of petrol were revised to Rs 70.33 per litre in Delhi, Rs 75.97 in Mumbai, Rs 73 in Chennai and Rs 72.44 in Kolkata.

Diesel which rose by 12 paise in Delhi and 13 paise in Mumbai was revised to Rs 64.59 per litre in Delhi, Rs 67.62 per litre in Mumbai, Rs 66.36 in Kolkata and Rs 68.22 in Chennai.

The petrol prices on Tuesday were recorded at Rs 70.41 per litre in Delhi, Rs 76.05 per litre in Mumbai, Rs 72.52 per litre in Kolkata and 73.08 in Chennai.

While Diesel was recorded at Rs 64.47 per litre in Delhi and Rs 67.49 per litre in Mumbai, Rs 66.24 in Kolkata and Rs 68.09 in Chennai.

Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.

Prices had started to climb from August 16.

After the consistent rise, 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 prices also reduced due to the falling international prices and the appreciation of the money.

(With inputs from agencies)