Petrol is now being retailed at Rs 90.40 a litre in Delhi, down from previous day's level of Rs 90.56 a litre
A day after the government increased excise duty by Rs 3, Petrol and diesel prices have been cut by 12 paise and 14 paise per litre as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.
After international crude oil went into a free fall, fuel prices in India further reduced on Wednesday. The prices of petrol and diesel have been cut by more than Rs 2.
Fuel prices dropped further after international crude oil went into a free fall due major slump in demand following the global outbreak of coronavirus epidemic. The price of petrol was cut by 24-27 paise a litre and that of diesel by 25-26 a litre across all major cities in the country on Monday.