Fuel prices continue to drop

Diwali may offer another reason to celebrate for vehicle owners, as prices for petrol and diesel continue to decline while the festival of lights draws ever closer. On Monday, prices for petrol were cut by around Rs 0.22 per litre while diesel prices dropped by around Rs 0.21 per litre, depending on the state.

The latest drop in prices means that petrol has seen a total reduction by over Rs 4 per litre and diesel by over Rs 2.5 per litre (approximations), in the last 19 days.

As per the Hindustan Petroleum website, petrol retailed for Rs 78.65 per litre and diesel for Rs 73.25 per litre in the national capital while prices for the same in Mumbai stood at Rs 84.15 per litre and Rs 76.75 per litre, respectively.

The decline in fuel prices has come on account of measures undertaken by state and central governments, along with the recent downward movement in international crude oil prices and the strengthening of the rupee against the US Dollar.