After the fuel rates remained unchanged for 24 consecutive days, the oil marketing companies on Wednesday reduced fuel prices across major cities in the country. Petrol and diesel prices have come down by up to 18 paise per litre each, as per a release from state-run oil retailers.
In the national capital, petrol is now available for Rs. 90.99, down Rs. 0.18, whereas in other metros including Kolkata, Mumbai and Chennai it quotes at Rs. 91.18, Rs. 97.40 and Rs. 92.95 per litre.
Similarly, diesel price after rate change is available for Rs. 81.30 per litre in Delhi, while in Chennai, Mumbai and Kolkata is retailing at Rs. 86.29, Rs. 88.42 and Rs. 84.18 per litre.
Fuel prices have been following the dynamic pricing model since 2017 and are reviewed by state oil marketers daily and revision if any is made effective at 6 am.
On Tuesday, the finance minister Nirmala Sitharaman said she will be delighted to discuss the possibility of bringing petrol and diesel under GST at the upcoming GST Council meet.
In the global market, oil prices gained in early trade today after previous day's fall on bargain hunting, nevertheless oversupply concerns with respect to the commodity capped the gains.