RAC Fuel Watch data shows there was a 3.5p per litre fall in wholesale prices yet petrol started and finished the month at 130.6p per litre.
Lanka Indian Oil Company (LIOC) has made a decision to reduce fuel prices with effect from midnight today (02).
Lanka IOC has reduced the prices of 'Lanka Auto Diesel (LAD)' by Rs.11 per litre to Rs.118 and Lanka Petrol 92 (LP 92) by Rs.2 per litre to Rs 153 per litre. Prices of petrol in Mumbai went down to Rs 84.68 per litre (decrease by Rs 0.18) and that of diesel to Rs 77.18 per litre (decrease by Rs 0.14).
Like petrol today, there has been a significant reduction in diesel prices across the country. Last week, Union Minister Dharmendra Pradhan had said that crude prices were not under the control of the Indian government and were determined by global forces.
The four metro cities witnessed a slash in the petrol and disel prices on Saturday by 18-20 paise per litre and 12-15 paise.
Fuel prices have been declining since early October as oil companies factored in softening of worldwide rates.
Before the October 5 price cut, petrol in Delhi had hit an all-time high of Rs 84 per litre while diesel was at record Rs 75.45. This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel.