New Delhi: Diesel prices on Thursday were cut by 20 Paise per liter – second reduction day in a row, but the gas level remained unchanged.
Diesel prices in Delhi are reduced to Rs 89.47 per liter from Rs 89.67 per liter, in accordance with the price notices by the government-managed oil company.
The reduction came in the back of a similar piece on Wednesday.
Just like on Wednesday, gasoline prices were not revised on Thursday.
In Delhi, gasoline continues to be given prices at Rs 101.84 per liter.
Price cuts take international oil prices that fall to their lowest level since May after the US Federal Reserve indicates it will start making tapered assets in a few months, harming commodities and lifting dollars.
While Brent decreased by $ 2.13 to $ 66.10 per barrel, the West Texas intermediary fell $ 2.39 to $ 63.07 per barrel.
India is close to 85 percent depending on imports to meet its oil needs and benchmark local fuel rates to international oil prices.
Reduction Wednesday in diesel rates came after 33 days the status quo in tariffs because the oil company follows what is known as a moderating policy that calls for not through extreme volatility at the consumer level.
Incidentally, this status quo coincides with the parliamentary session where opposition parties tried to corner the government on various problems including the increase in fuel prices.
The last price of gasoline and diesel occurred on July 17.
Before that, gasoline prices increased by Rs 11.44 per liter between May 4 and May 17.
The diesel level rose by Rs 9.14 during this period.
The price increase during this period pushed gasoline prices above the 100-A-liter-Mark Hospital in more than half a country while Diesel crossed the level at least three countries.