With the steepest reduction in five years with Rs 3.5 per litre, the petrol prices in Chandigarh came down to less than Rs 74.21 post Monday midnight, while the diesel prices were raised by 50 paise a litre.
The reduction in petrol prices is a first in over five months, bringing some cheer to the city residents who were earlier paying Rs 77.26 per litre. The petrol and diesel price change excludes local sales tax or VAT.
“The actual deduction will be more than Rs 3.50 once taxes are taken into account,” said an Indian Oil official.
However, diesel became dearer by more than 50 paise and soar to Rs 53.40 from Rs 52.90 in Chandigarh, the costliest in the Tricity.
Prices in Panchkula have gone down to Rs 73.72 per litre from Rs 76.77 per litre for petrol while diesel will now cost at Rs 51.15 per litre. With the heavier tax levied in Punjab, petrol still remains the most expensive at Mohali in the Tricity after the reduction at Rs 81.29 per litre. The difference between the petrol prices has also reached an all time of Rs 8.57. Petrol was earlier sold at Rs 84.34 in Mohali, where diesel will now cost Rs 51.43 per litre.
Diesel prices are expected to rise further with the government’s decision in January to allow oil companies to raise prices in small doses every month to get over the mounting losses.