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Petrol, Diesel Prices Experiencing Major Fluctuations Post Daily Revisions

Petrol and diesel prices in metro cities fell for fifth day in a row today despite a marginal rise in crude oil prices, after daily retail fuel price revision was implemented nationwide on June 16.

State-run Indian Oil Corp cut the price of petrol in Delhi by 10 paise per litre including state taxes and levies, and that of diesel by 5 paise per litre for sale from 6 am today (Tuesday, 20th June 2017) till 6 am tomorrow (Wednesday, 21st June 2017).

With the latest revision, petrol will sell for Rs 64.55 per litre in Delhi, while Diesel will be retailed for Rs 53.96 per litre in the capital for the day (June 20-21). The fall in daily retail fuel price follows a marginal rise in the price of the Indian basket of crude oil, which rose to $45.94 per barrel on June 16 — the last trading day — from $45.6 on June 15.

Before today too, the prices of petrol and diesel in metro cities were cut for four straight days after the implementation of daily price revision mechanism on June 16. In the five preceding days, the price of petrol has fallen by Rs 2.36 per litre in Delhi. The biggest cut of the lot was on June 16 itself, when the price was reduced by Rs 1.43 per litre (including state taxes and levies) after a gap of 15 days, as was the existing practice.

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