Fuel price cut: Petrol down 15 paise, Diesel dips 14 paise a litre

Fuel price cut continued for the sixth consecutive day on Monday with the Indian Oil Corporation reducing petrol prices by 15 paise per litre and diesel by 14 paise per litre in New Delhi and Mumbai.

Petrol in Delhi now costs Rs 77.96 a litre, down from Rs 78.11, according to a price notification issued by state-owned oil firms. Diesel costs Rs 68.97 a litre in the national capital.

IOC since May 30 has cut petrol prices by 46 paise and diesel prices by 33 paise in New Delhi, while similar price reductions were implemented in other cities across the country.

The recent reduction in fuel prices follows a consecutive 16-day hike in fuel prices across the country initiated by Oil Marketing Companies (OMCs) post Karnataka Assembly elections, which had led to a cumulative hike of Rs 3.80 per litre in petrol and Rs 3.38 per litre in diesel prices in Delhi.