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Fuel prices continued to fall across major cities, maintaining the decline after soaring to record high days back. Petrol and diesel are now being sold at Rs 78.06 per litre (decrease by Rs 0.15) and Rs 72.74 per litre (decrease by Rs 0.15), respectively in the national capital. In Mumbai, petrol and diesel prices are being retailed at Rs 83.57 per litre (decrease by Rs 0.15) and Rs 76.22 per litre (decrease by Rs 0.16), respectively. According to the revised prices issued by Indian Oil, petrol now costs Rs 79.98 in Kolkata and Rs 81.08 in Chennai. After the revision, diesel price has fallen below Rs 77-mark in Chennai. The fuel is being retailed at 76.89 per litre in the city. In Kolkata, diesel now costs Rs 74.60 per litre on Friday. Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the commuter's pocket. Read Complete Article Business Standard

There's no denying the fact that a hike in fuel prices , especially diesel which is a key transportation fuel, affects the prices of groceries making commodities of daily use expensive for the masses. But there's another way that a surge in fuel prices is likely to have an impact on your pocket. ALSO READ: With consecutive hikes, petrol crosses Rs 90-mark in Maharashtra's Parbhani According to the ET report, diesel cost forms seven to eight per cent of the total revenue of a telecom company and a continuous hike in its price is likely to have an impact on the company's Ebitda margins in the July-September period. Telecom industry is the second largest buyer of diesel after the Railways and spends nearly Rs 90 billion on it on an annual basis. The dip in margins is another hit for the telecom industry which is reeling under the pressure of nearly Rs 8 trillion of debt, ET reports, caused by a price war started with the entry of Reliance Jio into the sector. Rea

Petrol and diesel prices reached a new unprecedented level on Friday after oil marketing companies announced a sharp hike on Friday. In Delhi, petrol rose 48 paise to be sold at Rs 79.99 per litre. With a similar hike, petrol in Mumbai is priced at Rs 87.39 per litre. Diesel prices saw an even bigger hike on Friday. While in Delhi, prices rose by 52 paise, in Mumbai, the rates went up by 55 paise. The fuel is retailing at Rs 72.07 and Rs 76.51 per litre in Delhi and Mumbai respectively. Except for a halt on Wednesday, petrol and diesel rates have gone up every day since 26 August. Overall, petrol and diesel prices have gone up by Rs 2.32 and Rs 2.75 respectively in Delhi, since then. Opposition parties will launch nationwide strikes and protests next week over record-high fuel prices. ALSO READ: Govt rules out excise duty cut, even as petrol prices hit Rs 79.15 in Delhi The Congress has accused the government of "fuel loot" that it said had raised Rs 11 tri

The reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates Economy & Policy News : After 16 days of relentless price hikes, petrol price was today cut by about 60 paise a litre and diesel by 56 paise on the back of softening international oil rates and strengthening Indian rupee. Petrol price in Delhi was cut by 60 paise to Rs 77.83 a litre. Rates had yesterday touched an all time high of Rs 78.43 per litre, according to a price revision notification of state-owned oil firms. Diesel rates were cut by 56 paise in Delhi to Rs 68.75 per litre. Prices are now off their peak of Rs 69.31 a litre. The reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates. In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortni