On the last day of the year, Petrol prices dipped to its lowest at Rs 68.84, a cut by 42 paise on Sunday, while Diesel prices were cut by 46 paise per litre, selling at Rs 62.86.
Petrol was sold in Delhi at Rs 69.04 on Sunday, while diesel at Rs 63.32.
In Mumbai, petrol and diesel prices are at Rs 74.47 per litre and Rs 65.76 per litre, respectively.
This comes as a major relief to Delhiites as earlier in October, fuel prices had skyrocketed owing to fluctuations in the international markets.
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The highest price was recorded on October, however, soon after rates started to nosedive.
The dip in prices comes after the United States softened its stand on Iran’s sanctions and allowed eight countries to continue importing oil from Iran temporarily. These countries are India, China, South Korea, Japan, Turkey, Italy, the United Arab Emirates, and Taiwan.