Petrol price today: Petrol prices continued their downward trend on Thursday, and are now down to under Rs 85 in Mumbai. Petrol prices were slashed by 16 paise in Mumbai to Rs 84.86, implying a reduction of 16 paise from yesterday’s price. In national capital Delhi, the prices were reduced to Rs 79.37, implying a 18 paise reduction. In Kolkata, prices have been reduced to Rs 81.25, while in case of Chennai, one litre of petrol is retailing for Rs 82.46. Amid constant rise in fuel prices, petrol prices had crossed the Rs 90-mark on September 24th, and hit a historic high of Rs 91.24 on October 4th.
However, the prices have been on the decline in recent times, and have been slashed by more than Rs 3.40 in the last two weeks in Mumbai. The cut is fuel prices comes amid softening of global crude oil prices. Oil prices fell early on Thursday amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown. The Brent crude January futures contract lost 44 cents, or 0.32 percent, to trade at $74.72 per barrel by GMT 0054 GMT. West Texas Intermediate (WTI) crude futures fell 46 cents to $65.01 a barrel, Reuters reported.
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The political slugfest over rising petrol and diesel prices continues with former prime minister Manmohan Singh criticising the Narendra Modi-led administration over rising fuel prices. “Petrol and diesel prices are at historic high despite fall in international crude oil prices because Modi government chose to levy excessive excise duties instead of passing on benefit of low prices to Indians”, Manmohan Singh said during Shashi Tharoor’s book ‘The Paradoxical Prime Minister’ launch event in New Delhi on Friday.