According to a price statement by state-run oil companies, the price of petrol was dropped by 15 to 20 paise per litre across the country on August 22 after 35 days of stability. After a day of break, diesel prices fell by 18 to 20 paise.
In Delhi, the price of petrol and diesel was reduced by 20 paise apiece. On the day of the price decrease, petrol was sold at Rs 101.64 per litre in the national capital, while diesel was offered at Rs 89.07 per litre.
Across the country, fuel prices have been trending in the same direction. The retail price of petrol in Mumbai has been reduced to Rs 107.66, down 17 paise from the previous price of Rs 107.83. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre.
In Maharashtra's capital, the price of diesel fell by 20 paise to Rs 96.64 a litre.
In Kolkata, the price of fuel and diesel was reduced by 15 and 19 paise, respectively. In the state capital of West Bengal, a litre of petrol cost Rs 101.93 and a litre of diesel cost Rs 92.13 after the revision.
The price of a litre of fuel in Chennai was reduced by 15 paise to Rs 99.32. The DMK government in Tamil Nadu recently proposed a Rs 3 per litre reduction in petrol taxes. In Tamil Nadu's capital, the price of diesel fell by 18 paise, bringing the price down to Rs 93.66 a litre.
Following the US Federal Reserve's announcement that it will begin decreasing asset purchases within months, international oil prices plummeted to their lowest level since May, hitting commodities and raising the currency.