(FE)
Petrol prices were cut for the eighth consecutive day across Delhi, Kolkata, Mumbai and Chennai on Wednesday. Notably, the prices were slashed by 11 paise to in Delhi to Rs 77.72 and 10 paise in Kolkata to Rs 80.37. Petrol prices were reduced by 11 paise in Mumbai to Rs 85.54; and by 12 paise in Chennai to Rs 80.68. In the last eight days, petrol prices have been lowered by 71 paise per litre in Delhi, 70 paise in Mumbai, 69 paise in Kolkata and 75 paise per litre in Chennai, data from IOC website showed. Yesterday too, the prices were slashed by up to 14 paise in the major metros.
However, the slash in prices comes after 16 consecutive days of hike following the Karnataka polls. Notably, in the 16 days of hike, petrol prices had risen by more than Rs 3.7 in the four metros. Earlier this week, oil minister Dharmendra Pradhan ruled out daily price review of petrol and diesel but said the government was concerned about pinching fuel prices and is working on a long-term solution. “There is no review of daily price mechanism,” he said on the sidelines of the event marking receipt of first LNG cargo from Russia on Monday.
