Petrol and Diesel prices likely to be cut by Rs 2 per litre, 40 paise reduction possible tomorrow - Details!

With an aim to give relief to the common man, fuel prices across India are likely to come down, official sources told Zee Business.

Zee Business Special Correspondent Ambarish Pandey in its report on Monday said that petrol and diesel prices may be reduced by up to Rs 2 per litre, according to sources. The reduction in fuel prices will be gradual going forward, the sources also said.

The petrol and diesel prices may be slashed by 40 paise from tomorrow, Zee Business Special Correspondent said quoting sources.

On Monday, the petrol price in New Delhi was Rs 96.72 per litre and Rs 106.31 per litre in Mumbai, Rs 106.03 per litre in Kolkata, while Chennai residents paid Rs 102.63 per litre for the same.

According to a PTI report, India’s fuel sales have gone up in the first half of October on the back of economic activity picking up due to the festive season.

Petrol and diesel sales have jumped 22-26 per cent year-on-year (YoY) while also rising month-on-month in the first half of October 2022, PTI report said.

Petrol sales have gone up 22.7 per cent to 1.28 million tonne during October 1 to 15, 2022, especially when compared with 1.05 million tonne of consumption in the same period but in 2021.

The fuel sales have now been 31 per cent higher than in first half of October 2020 and 33.4 per cent more than pre-pandemic October 1 to 15, 2019, PTI reports. In addition to the sales, even the demand was 1.3 per cent higher than the first half of September 2022.