The good days have started to kick in as fuel prices again see a sharp cut. As announced on Friday, October 31, 2014, petrol and diesel prices will come down by Rs 2.41 per litre and Rs 2.25 per litre respectively. This is the sixth reduction in petrol and diesel prices since August 2014. The new rates would be effective from midnight.
Effective from Saturday, November 1, 2014, the prices of petrol in Mumbai would stand at Rs 71.91 per litre. Diesel rates in Mumbai would stand at Rs 61.04 per litre. As on October 18, 2014, diesel prices have been de-regulated by the government. Along with petrol and diesel prices, the non-subsidised cooking gas prices have also been reduced by Rs 18.5 per 14.2-kg cylinder. This is the fourth price cut in cooking gas prices since August 2014.
The price cuts in petrol, diesel and cooking gases would also benefit the citizens of India. The fall in diesel rates would result in lower transport cost which in turn would reduce the end prices of commodities. As for the petrol heads, the weekend drives/rides just got sweeter.
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