Best Day In The Year For A Full Tank: Cheer For Motorists As Petrol Prices Dip To Year’s Lowest On 31 December

Best Day In The Year For A Full Tank: Cheer For Motorists As Petrol Prices Dip To Year’s Lowest On 31 DecemberBikers fill petrol on a fuel station in Kandivali near Mumbai.  (Prasad Gori/Hindustan Times via GettyImages)

Bringing festive cheer for consumers on the last day of the year, petrol prices have dipped to their lowest for the year at Rs 68.84 per litre while diesel was selling at Rs 62.86 per litre in the national capital, Business Standard has reported. Petrol prices were cut by 42 paise while diesel prices were cut by 46 paise per litre on Sunday (30 December).

Petrol was available in Delhi at Rs 69.04 on Sunday, while diesel at Rs 63.32. This comes as a relief to Delhiites. Earlier in October, fuel prices had skyrocketed owing to fluctuations in the international markets.

In Mumbai, diesel and petrol prices were Rs 65.76 and Rs 74.47 per litre, respectively. The highest prices were recorded in October, leading to protests by the Opposition parties. However, the rates started to fall soon after, on account of global cues.

The dip in prices has been observed after the United States softened its stand on Iran's sanctions and allowed eight countries to import oil from Iran. These countries are South Korea, Japan, India, China, Turkey, Italy, the United Arab Emirates, and Taiwan.