Petrol and diesel prices have seen a fall for most parts of this week.
New Delhi: Fuel prices saw a further reduction on Friday with petrol seeing a 25 paise cut per litre while diesel registered a marginal fall of 7 paise in the capital.
A litre of petrol was at Rs 80.85 in Delhi while diesel was at Rs 74.73 here. In Mumbai, petrol was at Rs 86.33 per litre while diesel was at Rs 78.33.
Fuel prices have been sliding for most of this week after stubborn hikes in the last several months propelled them to record levels.
The current decline in fuel prices can be attributed to Prime Minister Narendra Modi’s recent meeting with the top executives of global and Indian oil and gas companies to discuss the global scenario in the wake of US President Donald Trump's warning of slapping sanctions on those who buy oil from Iran.
On October 4, in a bid to ease the crunch caused by soaring fuel prices, Union Finance Minister Arun Jaitley, announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre.