No change was recorded in the petrol prices across major cities in India on Saturday. In New Delhi, petrol price stood at ₹94.77, while in Maharashtra's Mumbai, it was ₹103.54.
Diesel prices also recorded a similar trend with no major fluctuation.
This comes a day after the central government announced a cut in the special additional excise duties on diesel and petrol to ₹3 per litre and zero, respectively.
Among major cities, the highest petrol price was recorded in Hyderabad, at ₹107.46, the same as yesterday.
Diesel prices across major cities remained largely unchanged, with the highest recorded in Hyderabad at ₹95.70. The diesel price in Delhi stood at 87.67.
Union Petroleum Minister Hardeep Singh Puri explained the rationale behind the cut in special excise duty, stating that PM Narendra Modi had two choices: either increase fuel prices or bear the financial brunt so that Indian citizens are insulated.
Consumers lined up at petrol pumps amid concerns of a shortage of petrol earlier, with Uttar Pradesh seeing an unprecedented surge in petrol and diesel sales over the past two days, nearly doubling last year’s figures, triggered by panic buying.
