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Business

Dip in fuel prices for third day again

indiatoday.in

The fuel prices have rolled back for the third straight day with maximum gains again for Mumbai. Petrol is down by 14 paise in Mumbai at Rs 83.30 per litre, while diesel has dipped to Rs 71.66 per litre, a 10 paise decline.

Across other metro cities, a litre of petrol is selling at Rs 75.69 in Delhi, Rs 78.37 in Kolkata and Rs 78.55 in Chennai.

Diesel is priced at Rs 67.48 in Delhi, Rs 70.03 in Kolkata and Rs 71.22 in Chennai.

The price hit an all time high on May 29. Petrol went up to Rs 74.83 per litre and diesel prices rose to Rs 69.31 per litre.

Since January 1, 2018, petrol prices have risen by Rs 6.46 a litre and diesel by Rs 8.21. The fuel price rise has triggered inflation, which has doubled in a year to 4.43 percent in May 2018.

The previous surge in fuel prices was a result of hike in Brent crude oil price, which came down on Friday after OPEC (Organisation of the Petroleum Exporting Countries) agreed to increase oil production by 1 million barrels per day, with support from Iran.

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