The state-run Indian Oil Corporation (IOC) reduced the price of both petrol and diesel by 9 paise per litre on Saturday.
Revised prices of fuel as of 6 am today:
Mumbai: Rs 86.01
Delhi: Rs 78.20
Kolkata: Rs 80.84
Chennai: Rs 81.19
Mumbai: Rs 73.58
Delhi: Rs 69.11
Kolkata: Rs 71.66
Chennai: Rs 72.97
Fuel prices were slashed for the fourth consecutive day today, after rising steadily for 16 days straight in the aftermath of the hold during the Karnataka assembly election campaign.
Interestingly, the price of petrol in Mumbai has fallen by 23 paisa in the last four days. In comparison, it had risen by 59 paisa in the four days prior to that (May 25-29) and by a staggering Rs 1.25 in the previous four days (May 21-25).
Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier attributed the rise in fuel price to the increase in the cost of crude oil in the international market and the rupee-dollar exchange rate.
Meanwhile, IOC also raised the prices of subsidised and non-subsidised domestic cooking gas cylinders by Rs 2.34 and Rs 48 respectively on Friday.
Latest price cuts:
Friday, June 1: Petrol down by 6 paise, diesel by 5 paise
Thursday, May 31: Petrol down by 7 paise, diesel by 5 paise
Wednesday, May 30: Petrol and diesel down by 1 paisa