This was also the first time since January that petrol prices fell below the Rs 70-litre mark, according to data on the Indian Oil Corp' website. The previous low of petrol price in the national capital for 2018 was Rs 69.97 recorded on January 4.
Giving details of the prices of petroleum products as on December 19 in a written reply to the Lok Sabha, Minister of State for Finance Shiv Pratap Shukla said the incidence of taxes and dealers commissions work out to be 96.9 per cent in case of petrol and 60.3 per cent for diesel.
Petrol price had touched an all-time high of Rs 84 a litre in Delhi on October 4 but has since declined to Rs 77.28 per litre on Thursday. Diesel, which had touched a record high of Rs 75.45, is now priced at Rs 72.09 per litre in Delhi.
Brent crude, the global benchmark, was down 94 cents at $79.11 a barrel late on Thursday. It has dropped by more than $7 from a high of $86.74 reached on October 3 amid rising US crude inventories, Saudi-US tension and falling Iranian exports.
Petrol price cut: Indian Oil Corporation today cut the price of petrol and diesel by 60 paise but soon revised it to reflect a 1 paise cut. The current price of petrol is at Rs 78.42/litre in Delhi and Rs 86.23/litre in Mumbai while diesel stood at Rs 69.30/litre in Delhi and Rs 73.78/litre in Mumbai.
Kochi, Mar 01 (ANI): Kerala petrol pump owners have gone on an indefinite strike all over the state, demanding renewal of their licenses. The strike, called by the All Kerala Federation of Petroleum Traders has come up following oil companies’ stance of not renewing the licenses of petrol pumps.
New Delhi, Jan 08 (ANI): Delhi High Court (HC) on Friday reserved their order on the extension of the Odd-even formula for a week after lawyer R. K. Kapoor presented the loopholes of the formula and said it has failed to control the city's pollution. He further emphasised that the formula has only been limited to petrol cars which do not contribute to pollution as much as the exempted diesel cars and trucks, which generate maximum pollution.