After touching new highs, petrol and diesel prices have started to come down giving much needed respite to the common man. Petrol and diesel prices witnessed a cut for the tenth straight day on Friday. While petrol prices came down by 21-22 paise per litre in mega cities like Delhi, Mumbai, Chennai and Kolkata, diesel came down by 15-16 paise from the previous day's rates.
However, despite the cut, petrol prices were hovering above the Rs 80-mark in Mumbai, Kolkata and Chennai.
Price of petrol on June 8, 2018
New Delhi: Rs 77.42 per litre
Kolkata: Rs 80.07 per litre
Mumbai: Rs 85.25 per litre
Chennai: Rs 80.37 per litre
Price of diesel on June 8, 2018
Delhi: Rs 68.58 per litre
Kolkata: Rs 71.13 per litre
Mumbai: Rs 73.02 per litre
Chennai: Rs 72.40 per litre
Oil Minister Dharmendra Pradhan had earlier vowed to not allow petrol and diesel prices go out of reach of the common man, saying the government is working on a holistic solution to price volatility without going back on reforms.
Blaming geopolitics of oil, exchange rate fluctuations and local taxes for petrol and diesel prices touching a record high, he said the government is sensitive and will ensure that "poor, middle class are not pained."
"We will deal with the issue," he said at a news conference called to highlight his government's achievement in four years. "The government will take a holistic view (of the situation) so that petro prices do not pinch them. Government will do all that is possible."
The government had deregulated or freed petrol pricing from its control in June 2010 and diesel in October 2014. It allowed revision of prices on daily basis since mid-June last year to reflect changes in cost instantly.
(With inputs from agencies)