Finally, petrol and diesel prices fall across the country after 16-day surge

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Fuel consumers can now breathe easy. Petrol and diesel prices across the country fell on Wednesday after 16 continuous days of hike which had pushed retail fuel prices to the at the highest level recorded in the country’s history.

New Delhi: Fuel consumers can now breathe easy. Petrol and diesel prices across the country fell on Wednesday after 16 continuous days of hike which had pushed retail fuel prices to the at the highest level recorded in the country’s history.

Prices of non-branded petrol in Delhi fell to Rs 77.83 per litre today, a cut of 60 paise from Tuesday’s prices. Similarly, diesel prices in Delhi fell to Rs 68.75 per litre, a cut of 56 paise from Tuesday’sprices.

The price of petrol decreased in other metro cities too including Rs 85.65 per litre in Mumbai and Rs 80.47 per litre in Kolkata, a cut of 59 paise from Tuesday’s prices. While petrol prices in Chennai were at Rs 80.80 per litre, a cut of 63 paise as compared to Tuesday.

The price of diesel also fell in other metros decreasing to Rs 73.20 per litre in Mumbai, a cut of 59 paise as compared to Tuesday, Rs 71.30 per litre in Kolkata and Rs 72.58 in Chennai , a cut of 56 paisa and 60 paise per litre respectively as compared to Tuesday’s prices.

The latest 16 days rally had continued till Tuesday since the 19-day price freeze initiated by OMCs before the Karnataka polls.

Indian Oil Corp (IOC), the country’s largest fuel retailer, had between 14 May and 29 May increased petrol prices by Rs 3.80 per litre and diesel prices by Rs 3.38 per litre in the national capital. Similar price hikes were implemented in other cities across the nation fueling nation-wide protests and a call for excise duty cut.