Petrol Prices: Fall in Fortnight Less than Half the Rate of Rise Earlier
Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming.
New Delhi, June 11: Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming.
The pace of decline has been less than half the rate of the surge. Percentage-wise, since May 30, when prices started to take a downturn, petrol prices have slipped 2.35 per cent in Delhi, compared to the 5.5 per cent in the previous 16 days.
In absolute terms, prices have gone down by Rs 1.85 a litre since May 30, compared to the increase of Rs 3.8 per litre in the during May 14-29. On Monday, fuel was sold at Rs 76.58 per litre in the national capital, down 20 paise from Sunday's level, the IndianOil Corp's website showed.
In Mumbai, where petrol prices were the highest in the country last month, the decline has been much slower at Rs 1.23 per litre so far, against the rise of Rs 3.76 a litre during May 14-29.
On Monday, petrol price in Mumbai was Rs 84.41 per litre against Rs 84.61 on Sunday. Similarly, in Kolkata and Chennai, the fuel was sold at Rs 79.25 and Rs 79.48 respectively.
In Kolkata and Chennai too, the decline has been Rs 1.81 and Rs 1.65 per litre in the last 13 days, around 50 per cent of the previous rate of increase. In tandem with petrol prices, diesel to has seen a decline, but of only around 2 per cent in all the major cities including Delhi, compared to over 5 per cent rise in the previous fortnight.
Both in Delhi and Kolkata, diesel prices in the last 13 days have declined by Rs 1.36, and in Mumbai and Kolkata, the fall was of Rs 1.44 and Rs 1.45 per litre respectively. On Monday, prices of the fuel in Delhi, Kolkata, Mumbai and Chennai were at Rs 67.95, Rs 70.50, Rs 72.35 and Rs 71.73 per litre, respectively.
(The above story first appeared on LatestLY on Jun 11, 2018 05:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).