Fuel prices witnessed another cutback on Saturday for the second consecutive day, after remaining stagnant on Thursday. The price of petrol in the national capital dipped to Rs 78.99 per litre and that in Mumbai to Rs 84.49 per litre, both a decrease of 19 paise.
The diesel price in Delhi was slashed to Rs 73.53 per litre, a decrease of 11 paise and that in Mumbai Rs 77.06 per litre, a decrease by 12 paise.
The prices in fuel have seen a steady decline in the last few weeks but had remained steady for most parts of this week. The rates, however, remain far higher than what the common man is used to paying and the government has repeatedly blamed international factors.
The price on Friday with petrol retailed at Rs 79.18 per litre, fall of 19 paise from a day earlier, while diesel was at Rs 73.64 per litre in the national capital. Petrol prices in Mumbai, meanwhile, were at Rs 84.68 per litre while diesel was at Rs 77.18 per litre.
In October, Prime Minister Narendra Modi had held a meeting with the top executives of global and Indian oil and gas companies to discuss the global scenario in the wake of US President Donald Trump's warning of slapping sanctions on those who buy oil from Iran.
With assembly elections round the corner, and Lok Sabha elections scheduled for early next year, the prices of fuel is expected to become a major point of tussle between opposition parties and the ruling dispensation.
Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the common commuter`s pocket. However, the Centre earlier in October announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre.
