After a long hiatus, fuel prices took a dip on Wednesday with the rates of both petrol and diesel climbing down by 16 paise a litre. In Chennai city, the price of petrol came down from ₹93.11 to ₹92.95 a litre. The price of diesel came down from ₹86.45 to ₹86.29 a litre.
Industry experts said that with international crude prices coming down, fuel prices are likely to decrease further in the coming days. The last time that fuel prices were changed was 24 days ago.
The news brought a sense of relief to consumers. G. Ramakrishnan of Besant Nagar said that he was relieved to note that fuel prices had started to slide down.
A retailer said the price reduction led to a loss for them since they purchased fuel at a higher price.
